I am with the Adelante Foundation. We are a microfinance institution serving the poorest of the poor women in Honduras. We are currently toying with the idea of transitioning into a cashless model using the Bitcoin and I had a few questions I was hoping you could help me out with.
I understand the benefits of going cashless and using the Bitcoin. I also understand the efficiency of approving loans and transferring money to clients. What I do not understand is how the clients use that money to pay for things. Since Adelante works in very rural areas, it's very possible they will need cash to make transactions, so how do they do that? Would all the vendors need to have some sort of software that supports Bitcoin?
Any light you could shed on this subject would be very appreciated! Thank you so much!