About Bitcoin Circular Economies

A Bitcoin Circular Economy is a local economic ecosystem where Bitcoin (BTC) is used increasingly as a medium of exchange, a unit of account, and a store of value. Within a Bitcoin Circular Economy, BTC is continuously circulated between individuals, businesses and other entities as a means of payment for goods and services and for settlement of other financial obligations. Key components of a Bitcoin Circular Economy include: local Bitcoin meet-ups and other public education activities; merchant adoption and use of BTC; organizational leadership and coordination of activities for the local circular economy; and, community development and social impact programs with BTC at the centre.

FBCE currently categorizes Bitcoin Circular Economies according to five tiers of development. Each tier (from 1 to 5) represents an increased level of development. FBCE considers Tiers 1-2 to be "Emerging" BTC Circular Economies and Tiers 3-5 to be "Advanced" BTC Circular Economies.

TIERS ACTIVITIES / ACHIEVEMENTS

1 2 3 4 5

x x x x x Lead organization is using BTC as unit of account

x x x x x Lead organization has official staff

x x x x Lead organization has financial infrastructure

x x x A lead organization has been established for the circular economy

x x x Is actively engaging and on-boarding local merchants

x x Has identifiable communication accounts for the circular economy

x x Is conducting local educational sessions/outreach

x A jurisdiction of focus (ie, neighbourhood, town) has been identified

x Lead Bitcoiner(s) identified and intend to grow circular economy

x Evidence that BTC is being used locally as money

From Early Dreams to Global Movement

Two towns, a shared vision.

Following the launch of Bitcoin in 2009 and early adoption, it was not long before this sound money was placed at the centre of more coordinated efforts to organize the exchange of goods and services at a local level. Two groundbreaking Bitcoin "circular economies", one that took shape in 2014 and another in 2019, provide excellent case studies for how Bitcoin circular economies get started and evolve. One of these examples is located in the global North (Arnhem, Netherlands) and the other in the global South (El Zonte, El Salvador).

Arnhem Bitcoinstad (Arnhem, The Netherlands)

Inspired by earlier efforts in The Hague, local Bitcoin enthusiasts in the Dutch town of Arnhem organized "Bitcoin Boulevard" events beginning in early 2014 with the goal of encouraging local merchant adoption. Within less than a year, 'boulevard" was replaced with "city" as adoption flourished, resulting in the world's first true Bitcoin circular economy: Arnhem Bitcoin City.

Bitcoin Beach (El Zonte, El Salvador)

In 2019, a visionary group of community leaders in the coastal community of El Zonte, on the coast of El Salvador, embarked on a journey to integrate Bitcoin into the life and economy of the local community. The success of Bitcoin Beach (El Zonte) has inspired the Government of El Salvador to officially adopt Bitcoin as legal tender for all of El Salvador, and has encouraged other communities around the world to adopt/adapt the Bitcoin Beach vision.

About Bitcoin Circular Economies

From Early Dreams to Global Movement

Two towns, a shared vision.

Arnhem Bitcoinstad (Arnhem, The Netherlands)

Bitcoin Beach (El Zonte, El Salvador)

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