Fortaleza is known to be the fifth-largest city in Brazil and also the state capital of Ceara. It has been announced by a local news outlet that Fortaleza is assuredly going to permit its citizens to utilise bitcoin payment option for their public transport tickets. This initiative is expected to take place by the end of the year.
As contained in the publication, Ceará Co-operative of Autonomous Passenger Transporters, shortened as COOTRAPS, is expected to allow Fortaleza’s dwellers / travellers to utilise bitcoin to pay for public transport tickets by the end of the year. With the inclusion of bitcoin as a payment option, the city dwellers will have the privilege to either buy their transport tickets with cash, debit cards, credit cards or bitcoin.
Obviously, with this new initiative, COOTRAPS’ objectives are likely to improve efficiency, reduce bureaucracy and also attracts more users and cut costs.
As regards to the above aims, Carlos Roberio Sampaio, CFO of COOTRAPS noted:
“This is an attempt to decrease bureaucracy, even bringing more users to transportation. We expect a greater flow of people, we will make it easier for users.”
COOTRAPS also asserted that Fortaleza is equally considering whether to accept payments for purchasing public transport tickets in the form of other cryptocurrencies in the future. However, it failed to specify or say overtly which other cryptocurrencies the city is considering.
Per the article, COOTRAPS also noted that 40% of the residents of Fortaleza still uses money in its supplementary system which is two-times the figure of passengers in the city’s bus fleet. This however is controlled by Sindiônibus, another group.
How Will the Bitcoin payment Been Made?
In accordance with the report, the bitcoin payment system will be an automatic one. This then renders the city drivers incapable of interfering with the system. Support for bitcoin payment will be launched or implemented into Fortaleza’s autonomous ticketing app before the end of 2019. This will then allow travelers or passengers to initiate payments through a smartphone application that generates a QR code. The passengers are then expected to scan these codes to verify their trip.