Unbanked coffee growers start accepting Monero

Charlie Taylor

Coingoback" srcset="https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1.jpg 700w, https://cointimes.com.br/wp-content/ uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-150x32.jpg 150w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-585x125.jpg 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;"/>Coffee is good, yet another flavor of financial revolution. Unbanked coffee growers in Guatemala are gaining global attention after integrating Monero as method of payment. For many people around the world, something as simple as having a bank account is practically impossible, lack of documentation, unproven income and excessive regulations are some of the reasons for this phenomenon. However, this is slowly changing with cryptocurrencies. One of the most recent cases and successful adoption of cryptoactives came from Guatemalan coffee growers. With no bank account and thousands of intermediaries to reach broader markets, the only option was to settle for local sales. That changed when the Monero anonymous coin community arrived in the country with the Gratuitas project. The idea is to give more financial freedom and access to global markets with critpocurrencies. 

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Douglas Tuman, podcaster of the Monero Talk show, taught 18 farmers about Monero and helped create the cryptocurrency wallets. Free Project FarmerIn addition to earning XMR wallets, they now have an online presence with a fully auditable payment method (Monero has controlled audit tools) and the most interesting thing is that coffee tasters can send donations directly to the wallets from whoever planted the bean.For just the equivalent of US$24.99 in XMR you can take “MoneroTopia”, a “sweet and smooth coffee with flowery citrus notes”, 100% of the Bourbon variety – describes the Gratuitas project. MoneroTopia – coffee sold by GratuitasIn addition to coffee, the project also sells macadamia oil, great for the skin of the most vain cryptocurrency aficionados. The community is creating a payment system that will allow for the rotation of addresses and greater decentralization in the division of payments, which today is carried out by the Gratuitas project's collaborators. “The donation you send will go directly to a Monero address that we currently control. We will share the tips and forward them to each of the 18 farmers equally. Eventually, we'll devise a method so that tips go directly to farmers. We are in contact with farmers and will continue to remind them of their donations and answer questions they may have about Monero. Even farmers who do not have smartphones or computers will be able to receive and hold their Monero simply by keeping their keys in a paper wallet.”The project's goal is to foster a local economy revolving around cryptocurrency:

“Eventually, with Gratuitas' help, we think people will learn to sell their Monero for cash, use it to shop online or use it locally — allowing local Monero economies to flourish organically.”

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