In Fortaleza public transport is also paid in Bitcoin

In Fortaleza public transport is also paid in Bitcoin - Fortaleza

Fortaleza, the fifth largest Brazilian city, has announced plans to allow users of city public transport to pay in Bitcoin. The news was made Opovo, the local newspaper, adding that Cootraps, the state-owned passenger cooperative to whom the service is entrusted will add digital assets to the range of payment options currently available, namely cash and credit and debit cards.
The financial director of Cootraps, Carlos Robério Sampaio, then expressed the reason that pushed the company towards the adoption of BTC for payments, or the desire to break down the bureaucracy on payment methods and, by this way, to expand its potential customer base.

How will the payment in Bitcoin

Bitcoin payments will be characterized by extreme simplicity, thanks to theuse of an app and the well-known QR code and the service should be up and running by the end of the year, thus allowing city users to pay for the ticket independently, without any interaction with the driver. The payment will be confirmed on the smartphone, which will allow the easy turnstiles to be overcome, while on the vehicle there will be a special device, which will be delegated the task of recognizing the transaction that took place, or the QR code generated at the time of payment.

The advantages that could derive from it

For Pedro Henrique Alcino, Cootraps project manager, expanding payments to the queen of cryptocurrencies could bring significant benefits to the company, in terms of cost optimization and bureaucracy.
As regards in particular the first aspect, allowing the passenger to start as many operations as possible would allow one reduction of personnel costs, considering that the percentage of users who still rely on traditional payments, or in cash, is around 40%. Goals that however could be made complicated enough to pursue due to the fact that there are still many Brazilians who rely on this tool for their transactions, making it more cultural than practical.

Brazil and cryptocurrencies

The news from Fortaleza confirms once again how Brazil is one extremely promising reality for digital assets. The largest country in South America, in fact, seems to be proceeding more and more rapidly towards regulation of the sector, a will confirmed by the decision to Rodrigo Maia, president of the Chamber of Deputies of Brazil, which has initiated the procedures that should lead to the formation of a commission for the launch of a regulatory framework able to make the use of virtual uniforms stronger and safer.
The increasingly favorable orientation towards virtual uniforms was then favored by appointment of Roberto Campos Neto at the head of the central bank, considered as the banker has long been a proponent of digital assets. Among the practical acts that have witnessed the country's desire for innovation, we must also remember initiatives such as the one implemented by Minasul, one of the largest Brazilian coffee cooperatives, through the adoption of its own cryptocurrency.