- The move is intended to attract more users and reduce costs.
- In addition to BTC, users can use debit and credit cards for transportation tickets.
Jornal do Povo, a Brazil-based media outlet reported that the citizens of Fortaleza will be able to use Bitcoin to purchase tickets for public transport. The report cited the Ceará Co-operative of Autonomous Passenger Transporters (COOTRAPS).
By the end of 2019, the implementation of BTC payments into the city’s autonomous ticketing app is expected to take place. The users will have to scan a QR code, which will then be scanned by devices located on the vehicles. Apart from BTC, one can purchase tickets using debit cards, credit cards or frequent flyer programs.
COOTRAPS also suggested that the city is considering payments in other forms of cryptocurrencies as well. Carlos.Robério, COOTRAPS chief financial officer, said, “This is a way of reducing bureaucracy, even bringing more users to transport. We expect a larger flow of people, we will make it easier for the user.”
Brazil has made quite a buzz in the crypto market by predicting that the country’s new tax regime will drive citizens toward using virtual currencies to evade taxation. Luiz Philippe de Orleans-Braganza, a federal deputy in the Brazilian National Congress, spoke out against cryptocurrency regulations recently. He said:
“Good regulation is one that comes from the consumer’s demand for something for which he felt injured and calls for state protection. I question this adventure of wanting to regulate something which consumers and companies organized to receive Bitcoin do not demand.”
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