Today I met with a head of a Organic farming co-operative initiative in Tamil Nadu and was trying to see how bitcoins can fit into the picture.
I was focused on two things
1. To encourage distribution of bitcoins
2. To encourage people transact with bitcoins
So I asked them if they could issue a very small portion of the profit (say 0.5%) as bitcoins?
They were willing to experiment.
As I was discussing how money can easily be transferred across wallets. The fundamental question was
1. Most of the people in villages do not have access to internet or smart phones. So how are these people going to hold or transact in bitcoins?
So are bitcoins only for literates with a understanding of technology and who hold sophisticated gadgets ?
There is a need for a mediator or community center where the village private keys can be stored.
Remember, online banking is not for people in villages as well, but there is someone assigned with a computer who does the bits for them.
The difference now, is that they can directly get paid without having to follow banking regulation or proximity.
But TBH, unless there is a processor who converts the BTC to something less volatile, the villages will suffer.