Inspired by the Bitcoin Community and based on the real world example in El Salvador (bitcoinbeach.com) we aim to create a sustainable Bitcoin Economic Ecosystem in Voi, Kenya.
We believe that with the Bitcoin as underlying financial infrastructure new opportunities for the local economy and community will be opened.
Why Voi?
Surrounding the town of Voi lies Tsavo Nation Park, one of Kenya’s largest National Parks. Every year thousands of tourists go to Voi to enjoy the beautiful wildlife. Tourism is one of the key drivers of the local economy.
Credit cards are the most common form of payment for tourists. Although mobile payments in Kenya (such as M-Pesa) are immersed into the local economy there still are numerous people who don’t have access to bank accounts and most local businesses could never qualify to accept credit cards.
Besides tourism, many people in and around the community rely on their small farms. While successfully producing food for their families, most farmer families are cut off from international markets. In the early 70’s the end came
From the early days, Bitcoin promised to allow us to bank the unbanked, and return power back from multinationals and global financial institutions to the individual. However, until recent, this promise has remained elusive. BitVoi is a movement to make sure the true potential of Bitcoin is realized, and that those who have been excluded from the banking system are the primary beneficiaries.
Reigniting Cotton with a Bitcoin Economy
In the 1970s Kenya was a major East African producer of cotton for each native consumption and export. It supported more than 200,000 households and about 30% of the manufacturing sector, however, it started declining during mid-1980s. The liberalization of the economy which led to dumping of second-hand clothes, locally known as mitumba severely affected the sector. This saw the collapse of previously thriving textile companies, and the influx of imported textile goods reduced the average capacity use of cotton in the textile industry to about 50 per cent. Cotton growing was the major source of living for farmers in Taita Taveta County in the Coast Region of Kenya as the good soil enabled the communities to produce enough for sale to the local ginneries. The farmers abandoned the crop after the collapse of cotton mills that used to hum within their vicinity which gave the earnings enough to sustain their lives and families. The income from the sale of cotton enabled them to pay school fees for their children, pay for healthcare, supplement their incomes and pay for their citizenry obligations but their hearts were broken impoverished. With revival of cotton farming and by combining it with sustainable methods of farming, communities will reclaim their source of livelihood and regain dignity through a decent living.
The collapse of the cotton industry in Taita Taveta County affected both men, women and children alike. Being the major industry, this mean that families lost their only source of life and they had to seek alternatives. Men migrated to towns to look for jobs to earn an income to support the needs of their families while women were left home looking after the children and practicing subsistence farming to fed for their families. Families that were knitted by the thriving cotton industry were disintegrated by fate as they were to find alternatives to improve their lives.
We are dedicated accelerate the transformation to a just and regenerative economy as we are focusing on organic cotton production through regenerative agriculture which is vital in reversing climate change by rebuilding soil organic matter and restoring degraded soil biodiversity that will lead to carbon drawdown and improving the water cycle. In the end, this will contribute to a socially responsible and sustainable fashion industry.