Colombian beetles exported to Japan with help from cryptocurrency

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A cashier of a edifice shows a successfully completed Kmushicoin cryptocurrency transaction connected a smartphone to a lunchtime customer, successful Tunja, Colombia, October 8, 2021. REUTERS/Luisa Gonzalez

TUNJA, Colombia Nov 4 (Reuters) - A Colombian exporter of long-horned beetles, a fashionable favored for Japanese children, has created its ain cryptocurrency to debar precocious commissions connected planetary sales.

"It's an alternate to beryllium capable to export the beetles to Japan oregon immoderate different portion of the satellite and beryllium capable to usage it arsenic a method of payment," said Carmelo Campos, main programmer of Tierra Viva, based successful the cardinal Andean metropolis of Tunja.

The institution exports Hercules, Neptunus and elephant beetle taxon which tin fetch up to $300 a brace successful Tokyo. The income committee tin scope arsenic precocious arsenic 10% of export value, motivating Tierra Viva to make the currency.

The Kmushicoin, named aft the long-horned beetle Kabutomushi successful Japanese, is accepted arsenic outgo by immoderate 220 businesses successful Tunja, including restaurants, covering stores, cafes and hardware shops.

Tierra Viva uses a percent of each its income to bargain backmost the coinage, Campos said.

Kmushicoin was worthy 0.30 cents erstwhile it was created successful 2019. It traded astatine $1.84 connected Tuesday.

"Our nonsubjective is to beryllium capable to usage it arsenic a method of outgo astatine the nationalist level," Campos said, adding an energy supplier has asked whether its customers could wage their measure with Kmushicoin.

The beetles, which tin turn to the size of an adult's manus and unrecorded up to 17 months, are fed rootlike and effect scraps arsenic larvae, producing a fertilizer which Tierra Viva besides sells.

The beetles person agelong been favored arsenic pets for Japanese children, arsenic good arsenic bully luck amulets.

"In total, including each the stages of metamorphosis, we tin person much than 50,000 beetles playing their portion successful our operations," said Tierra Viva laminitis German Viasus, arsenic 2 beetles crawled up his shirt.

Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Richard Chang

Our Standards: The Thomson Reuters Trust Principles.

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