José Luis Garcia, an entrepreneur and coffee lover, is on a mission to make his mark in Medellín, the birthplace of Colombia’s coffee industry. With the launch of his startup Lightning Koffee in October, Garcia has two goals in mind: to make a great cup of coffee and advocate for Bitcoin. Dubbed “The Bitcoiners Coffee,” his beans are locally sourced and known for their sweet aftertaste.
Garcia believes that his Colombian coffee can help his fellow Medellín locals, known as Paisas, reduce their reliance on the unstable Colombian peso and embrace Bitcoin. In an interview with Cointelegraph, Garcia stated, “We have the best coffee in the world, and I want my coffee brand to spread the word about Bitcoin so that other businesses will begin to accept it too.” He believes that this will help drive the Bitcoin circular economy, where only Bitcoin is used for transactions.
Currently, Lightning Koffee does not accept fiat currency but does accept other cryptocurrencies alongside Bitcoin. However, Garcia, a self-proclaimed Bitcoin maximalist, quickly converts any other tokens to Bitcoin. He plans to start accepting fiat payments through Mastercard and Visa soon but will only continue accepting Bitcoin as a cryptocurrency.
Lightning Koffee is not the only Medellín business embracing the intersection of crypto and consumables. In June 2022, Mind Cafe, also known as “Crypto Cafe,” became one of the first cryptocurrency-focused restaurants in El Poblado, a tourist area in Medellín. The cafe accepts Bitcoin and Lightning payments, while also providing customers with a metaverse-themed environment where they can create their own avatars and purchase coffee or traditional Colombian food with Bitcoin.
Garcia is part of a group of local Bitcoin enthusiasts in Medellín, working together to promote Bitcoin’s circular economy within the city. And it seems their efforts are paying off, as more newcomers are joining the Bitcoin community in Medellín each month. Independent Lightning developer Bram Kumuly, who once lived in Medellín, has noticed a “new energy” in the Bitcoin community during his visits to the city, giving him hope for Bitcoin’s long-term presence there.
However, there are still challenges in convincing everyone in Medellín about the merits of Bitcoin. Kumuly attributes this to a lack of understanding about money, the failing Colombian peso, and the potential benefits of Bitcoin as an alternative solution. Many Colombians still view Bitcoin as a tool for trading and quick financial gains, unaware of its potential to decentralize power and control from politicians.
As a result, Bitcoin’s circular economy in Medellín is primarily limited to Bitcoin enthusiasts and has not seen significant expansion. There are currently only six places marked on the BTC Map that accept Bitcoin in Medellín, compared to 451 stores in the most Bitcoin-friendly country in the region, El Salvador.
Garcia and other Medellín-based Bitcoiners understand the need to bridge this knowledge gap and push for wider adoption. They believe that building on the Bitcoin culture and developing local Bitcoin-only tech companies will help win over customers and merchants in Medellín. However, businesses are still reluctant to accept Bitcoin due to its price volatility.
Despite the challenges, there are promising developments in Bitcoin and Lightning development in Medellín that could increase Bitcoin spending in the area. With more education and awareness, Medellín may soon see a thriving Bitcoin circular economy, benefiting both locals and visitors alike.
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