Users of the transportation system in the city of Fortaleza, capital of Ceará, Brazil, will be able to use Bitcoin as a mode of payment, local newspaper “O Povo” reported. This initiative will enable The Ceara State Cooperative of Autonomous Passenger Transport (Cootraps) to reduce costs and bring more users with the initiative.

Cootraps CFO Carlos Robério Sampaio said:

“This is a way of reducing bureaucracy, even bringing more users to transport. We expect a larger flow of people, we will make it easier for the user.”

The payment method will be seamless without needing any driver interference. Bitcoin payment will be made through an application on the smartphone that will generate a QR Code for use in confirming the trip.

According to the Cootraps, the number of users who still use money in the supplementary system is 40%, twice the proportion of passengers in the municipality’s bus fleet, controlled by another group, Sindiônibus.

The implementation of the Bitcoin payment system will happen until the end of 2019. In the long run, other cryptocurrencies will also be accepted as a form of payment in the system.

Brazil has been slowly but steadily adopting blockchain. Recent news include:

Ripple Eyes South American Market, Launches Operations in Brazil

CoinBene which has extensive operations in Brazil, partnered with Mastercard, to launch its own card, which will use full cryptocurrency.

Coffee farmers in Brazil’s countryside could soon be using cryptocurrency for their day-to-day needs.


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