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 Lead organization is using BTC as unit of account
x Lead organization has official staff
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 x x Has identifiable communication accounts for the circular economy
x x x x Is conducting local educational sessions/outreach
x x x x x A jurisdiction of focus (ie, neighbourhood, town) has been identified
x x x x x Lead Bitcoiner(s) identified and intend to grow circular economy
x x x x x Evidence that BTC is being used locally as money
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