A Colombian entrepreneur named José Luis Garcia is combining his love for coffee with his passion for Bitcoin. With his start-up Lightning Koffee, Garcia hopes to not only create a great cup of joe, but also to educate people about Bitcoin and its benefits.
The Bitcoiners Coffee
Garcia's coffee beans, known as "The Bitcoiners Coffee," are sourced and processed locally in the city of Medellín, the birthplace of Colombia's modern coffee industry. These beans are known for their sweet aftertaste, making them a delicious choice for coffee lovers.
A Bridge to Bitcoin Adoption
Garcia believes that his Colombian coffee can serve as a bridge for Medellín locals, also known as Paisas, to lessen their reliance on the unpredictable Colombian peso and to embrace Bitcoin instead. He aims to spread the word about Bitcoin through his coffee brand, hoping that other businesses will also start accepting the digital currency.
Driving the Bitcoin Circular Economy
Garcia sees his venture as a way to drive the Bitcoin circular economy, where only Bitcoin is used for transactions. While Lightning Koffee currently doesn't accept fiat currency, it does accept other cryptocurrencies. However, Garcia quickly converts these alternative tokens into Bitcoin, as his main focus is on the leading cryptocurrency.
Joining the Crypto and Consumables Trend
Lightning Koffee is not the only business in Medellín that is merging crypto and consumables. Mind Cafe, also known as "Crypto Cafe," was one of the first cryptocurrency-focused restaurants in the city. In addition to accepting Bitcoin and Lightning payments, the cafe offers customers a metaverse-themed environment and the chance to purchase coffee and traditional Colombian food using Bitcoin.
Building the Bitcoin Community in Medellín
Garcia is part of a group of local Bitcoin enthusiasts in Medellín who are working together to promote Bitcoin's circular economy in the city. Their efforts include organizing meetups and engaging with other Bitcoiners and residents of Medellín. Independent Lightning developer Bram Kumuly, who has spent time in Medellín, also noted a growing Bitcoin community in the city.
Challenges and Opportunities
Although Medellín's Bitcoin community is growing, there are still challenges to overcome. Many Colombians do not fully understand Bitcoin and its potential as a financial tool, often viewing it as a means of quick trading and wealth accumulation. Additionally, the wider crypto, nonfungible token (NFT), and blockchain culture in Medellín may not align with traditional Bitcoin beliefs.
While there are currently 106 stores in Colombia that accept Bitcoin, Medellín's Bitcoin economy is not expanding as rapidly as hoped. Price volatility and a lack of local tech companies building Bitcoin products are some of the factors contributing to the slower adoption rate. However, there are signs of progress on the technical side of Bitcoin and Lightning development in Medellín, which could increase Bitcoin spending in the area.
According to Kumuly, local Bitcoiners need to build on Bitcoin culture and develop Bitcoin-only tech companies that cater to the people and merchants of Medellín. By doing so, they can create a stronger Bitcoin economy and drive further adoption in the city.
