Gozo is small mediterranean island of Malta, with a population of 37,342. Typically not an ideal place for a tech startup. We can get 30mb/s easily and maybe up to 100mb/s. So the infrastructure is good enough for sending files, streaming videos and conference calls, but not good enough to run servers that would need 24 hour dependable service. Malta also has a bad business culture that is smothered with pointless bureaucracy. Malta does have a growing IT industry and some very interesting robotics companies. Despite all this, Gozo still had its first Bitcoin meeting before its bigger sister Malta. Bitcoin Club Gozo has been born!
In a cute “house of character” was given on the basics of Bitcoin and how to use the wallet. Ideas were discussed to try turn Gozo into a hub for technological innovation. Despite its failings, Gozo is still a great hotspot for innovative thinkers. Its calm seas and vast nothingness spurs creativity and is home to many artists. Using servers from abroad, potential locals good bid for remote work online for bitcoin, sell products and services online for bitcoin, and research investments and savings to grow their income.
Bitcoin might be too hard for rural farms to sell their cheap produce, but most people in Gozo have savings but away somewhere for a rainy day. If lucky a savings account could give a Gozitan a return of 3% on their savings, which will not be enough to protect themselves against hyperinflation. Putting a significant portion of their savings in bitcoin is almost guaranteed to return a massive profit over the next ten years. It was suggested at the meeting to buy ten euro worth of bitcoin every Monday to save in the future.
If in the Gozo area and you would like to learn more about bitcoin, please join us at Bitcoin Club Gozo.