Bitcoin-driven Circular Economies are Gaining Momentum in Suriname
Bitcoin-driven Circular Economies are Gaining Momentum in Suriname
Thanks to the dedication of Bitcoin supporters, Bitcoin-based ecosystems are gradually expanding in Suriname.
These ecosystems, with Bitcoin Beach in El Zonte, El Salvador, being the initial and most recognized example, are small autonomous communities where locals and businesses generally utilize Bitcoin as currency. They frequently consist of a Bitcoin knowledge center and are spearheaded by community figures who enjoy community trust.
Suriname, which has been featured in Bitcoin-related news due to its pro-Bitcoin presidential nominee Maya Parbhoe, now hosts two Bitcoin-based ecosystems: Bitcoin Sranan and Bitcoin Alfonsdorp.
In both, residents are learning how to execute and receive Bitcoin transactions, as well as utilizing Bitcoin as a savings method. This is particularly crucial in Suriname, where the Surinamese dollar (SRD) has experienced inflation rates as high as 59% in recent years.
Bitcoin Sranan
Parbhoe launched Bitcoin Sranan in the nation's capital, Paramaribo, in 2021, following her observation of Bitcoin's impact on communities like El Zonte in El Salvador.
Terence Coronel, a highly committed and quiet local, now manages the project. He spends his days introducing community members to the Mi Primer Bitcoin (My First Bitcoin) curriculum and signing up merchants and other locals to Bitcoin.
“When I started, I decided to go on the road three times a day and approach locals with a pitch of ‘Hey, I’m from Bitcoin Sranan, a non-profit organization, and I’m here to let you know that you can receive money through Bitcoin rather than just bank transfers,’” Coronel told me during an interview.
Coronel then assists those eager to engage by assisting them in downloading the Blink Wallet, a Bitcoin wallet compatible with the Lightning Network, before carrying out a test transaction with them, sending them $3 worth of bitcoin.
Although some decline to interact with Coronel, he said that dealing with rejection during cold approaches isn't the hardest part of his work. The main challenge lies in convincing those interested to attend the Bitcoin Sranan education center to learn more about Bitcoin.
“The challenging part is getting them to attend and complete the Mi Primer Bitcoin course,” said Coronel.
“Some people have trouble finding transportation, and some lose interest. Some also think that Bitcoin is about becoming wealthy quickly. Most ask ‘Can you teach us to trade?’ or ‘Can you teach us how to buy a car quickly?’” he added.
“Normally, I respond with ‘We're not teaching trading. We're not teaching people to get wealthy quick. We’re trying to raise awareness around Bitcoin so people understand what Bitcoin is, how it works, and what it can mean for their future,’” Coronel replied.
Due to his determination, Coronel and his team have onboarded 110 merchants, many of whom, he claimed, are now delighted to be part of the Bitcoin network.
“When we onboard them, we place them on BTC Map, on the Blink app, and also promote them on X, Facebook, and Telegram,” said Coronel. “What happens is that some international people send donations to these merchants, and the merchants are quite surprised and appreciative, as the funds are incredibly helpful in their daily lives.”
Bitcoin Alfonsdorp
Upon learning about Bitcoin at the Bitcoin Sranan education center and experiencing the benefits of saving in bitcoin, Terence Karijondomo felt compelled to share Bitcoin knowledge.
Karijondomo is a Surinamese citizen who installs security systems in banks and private enterprises for a living. He had long desired to teach technical skills to individuals in his village, Alfonsdorp, which is situated in a rural region in northeastern Suriname close to the French Guiana border. He believes that educating about Bitcoin is an excellent way to initiate this.
“One idea I had was to start an education center where I could teach basic ICT — things like how to use a computer, Word, Excel,” Karijondomo explained in an interview.
“I was also going to share my security camera installation experience so that people could utilize this information to help find employment. I am still going to do that, but now I am prioritizing Bitcoin and then, following that, I’ll teach ICT,” he added.
Karijondomo is also committed to ensuring that indigenous Surinamese individuals do not miss out on Bitcoin.
“In Suriname, indigenous people are consistently the last to adopt new technology,” said Karijondomo.
“I want to teach the younger generation about Bitcoin because otherwise, they will take paths that are not beneficial for them,” he added.
“I am trying to change that, and, in Bitcoin, I discovered a method to relate to them, so that's my mission.”
However, Karijondomo also acknowledged that many in Suriname have been victimized by Bitcoin scams, which has left them with a negative perception of Bitcoin.
“Many are traumatized right now because of Bitcoin scams, so some just don't want to hear anything about it,” he said.
"Nomad brought up the idea of introducing Bitcoin through Suriname's cherished cabaret shows.
'Entertainment and satire are a big deal in Suriname,' Nomad mentioned.
'With cabarets, you can have the audience in stitches and then move on to Bitcoin,' he elaborated. 'Take, for instance, every politician in Suriname accusing the previous administration of looting the central bank. If you're following a Bitcoin standard, a politician telling you there's no money in the central reserve becomes a joke. You simply pull out your phone, challenge their claim, and say, 'Sorry, mate, but you're pulling my leg.'
(In this scenario, Nomad was highlighting how the Bitcoin blockchain allows for transparency in government spending, potentially leading to greater accountability from politicians and other officials. This is one of the reasons why Parbhoe is eager to shift Suriname to a Bitcoin standard.)
Nomad emphasized the importance of delivering Bitcoin knowledge with a local perspective in mind.
'Probably half of what works in El Zonte will work here,' said Nomad. 'The rest will have to be tweaked to fit Suriname.'"
- Terence Karijondomo, inspired by his Bitcoin education in Paramaribo, aims to bring Bitcoin knowledge to his village, Bitcoin Alfonsdorp, located in a rural area of northeastern Suriname.
- Bitcoin Alfonsdorp will include Bitcoin education as a priority, after which Karijondomo plans to teach basic ICT skills and security camera installation.
- Despite the negative perception of Bitcoin due to scams, Karijondomo is committed to educating the indigenous Surinamese population about Bitcoin, as he believes it can provide them with beneficial opportunities.
- Suriname's Bitcoin-based ecosystems, Bitcoin Sranan and Bitcoin Alfonsdorp, are essential in addressing the country's economic issues, such as high inflation rates, by offering a stable digital alternative to the Surinamese dollar (SRD).
- Mayor Parbhoe's dedication to Bitcoin and the Bitcoin standard in Suriname could result in increased transparency and accountability in government spending, leading to potential improvements in the country's economy.