Seeds of a HBD Economy
Have you noticed a trend lately? Posts like this?
You will sometimes see it on the Hive trending page, but if you explore the Hive Sucre Community, you will find lots of posts of users for the first time making purchases of groceries, lunch, make-up etc. using HBD.
Using the data provided by @jonsnow1983 here, I've created a list of merchant accounts so that I can track the activity of the onboarded merchants in Sucre, Venezuela. This post is to share some of those stats.
Incidentally the capitol of Sucre, Cumaná is the place in the world with the highest penetration rate of active Hive users, so it makes sense that any trend of merchant acceptance would start there.
Charts
The following charts are based on transfers to a list of Hive Sucre merchants, as mentioned above. They begin in 2023, because that is when this merchant onboarding project began.
Active Merchants per Month
Active Customers per Month
Number of Purchases
Total HBD Value Transferred
Conclusion
As you can see, it's small scale and early days, but it is growing quite quickly even if at a small scale.
I would be curious to know which if any other cryptos are achieving anything similar, that is measurable.
Venezuela, and Sucre in particular, are killing it! The work being done there is incredible and serves as an example for other communities to follow.
Check , Bitcoin Islands at 🇵🇭. Boracay is a famous place for Bitcoin tourits, over 300 place accept BTC
I have no doubt that Sucre will reach that level soon
I had not heard of that place before, and it's certainly interesting to see. I see reports on the numbers of merchants, but I don't see any data on transaction or customer numbers. Do you know if they have that?
I don't know if they keep a record of that. I imagine someone on the island keeps those statistics, as it is a phenomenon worth studying. Maybe if you ask it on twitter, they will give it.
I knew about this project because a friend of my visited Boracay and payed everything with BTC 'cause it was to expensive to paid with Visa or E-wallet
If I find the information i will leave it here
Greetings dear friend, yes, as you say, here in Cumaná state Sucre Venezuela, we are making progress in terms of crypto-adoption. More and more affiliated businesses and users are making use of their wallet to acquire, through their HBD, goods and services. We currently have 46 affiliated businesses and we are going for more. Thank you for being attentive to our activities.
This is great, except that I do worry about it encouraging people to remove even more rewards from the platform than they would otherwise. I don't think the amount would harm the market, but it could harm the future of those who most need to save.
I've seen a few of our Nigerian members who learned about saving and investing due to being forced to look into crypto further due to the extra steps involved. I'm happy to say that even though these members do use some rewards, they also grow their accounts, and some invest :)
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How exciting to see that hive is being rapidly adopted in sucre, I know that the hivers are still working to attract more businesses so that number will only grow faster and faster...
This results are quite impressive, I hope the adoption of Hive will spread the word as fast as possible 😁 !PIZZA !ALIVE
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Hive is gaining the necessary exposure it needs 🙂
The truth is that other Cryptocurrencies do the same in Venezuela, I don't think since the growth of #HBD has been incredible so far this year, I hope that many more businesses nationwide can give us that facility and pay for food, goods, more services with our favorite tokens how they are #HIVE #HBD
I would love to shop with my HBD, but I think we don't have any facility like this till now, I have joined the community you have talked about and will visit it see how it is going and how people are spending HBD to buy daily use things.
Maybe I can sell my art using HBD. Not sure how to ship though. Shipping is expensive 😢
It is vety obvious that it is growing and I would love to buy too when I have the money
The way we see in your post that you're using a lot of people who are there to buy everyday things is very good for the economy and the way we see it. We are now seeing an increase in all things, and people have started coming more, so this is a very good thing. As we've seen before, whenever something starts to have uses, it's a very good thing for the project. Has also started accepting.
👍