The NGO announced 16 circular bitcoin economies are operational In Peru after establishing educational material empowering the financially excluded communities.
Motiv Inc., has announced the launch of 16 circular bitcoin economies in Peru.The company develops educational resources teaching underdeveloped communities how to use bitcoin to create their own economies. Many communities in Peru are separated from central banking but the region has 80% smartphone penetration, making room for bitcoin adoption.
Motiv Inc., a non-governmental organization (NGO) dedicated to creating bitcoin circular economies, has launched a new series of programs in Peru to educate and equip 16 communities with the tools needed to create their own economy, per a press release sent to Bitcoin Magazine.
With these programs, the team at Motiv seeks to provide “opportunity, not charity” to many Peruvian communities who find it hard or impossible to interact with legacy financial institutions.
“Unlike many groups that just donate money to those in need, Motiv recognizes that handing out cash may be at best a short-term solution but lacks the education and skills training for longer sustainability,” says Richard Swisher, CEO and co-founder of Motiv.
Sadly, many Peruvians find themselves virtually excluded from the global economy due to an absence of centralized banking and financial education in remote regions. Motiv seeks to remedy this financial exclusion through providing educational resources enabling communities to create their own circular economy with bitcoin encouraging growth and stability in the region.
“As bitcoin gains a toehold in impoverished communities, we are pleased to see the increase of adoption and excitement emerge from its citizens as new businesses are formed using bitcoin, and more people become engaged with the currency by using it in their daily lives,” Swisher continued.
Motiv is based in the U.S. with operations in Peru and was founded in July 2020. The NGO seeks to improve the lives of those less fortunate after the two co-founders encountered a village in the Peruvian Andes Mountains left to fend for themselves, excluded from the rest of the world.