Ukrainian goes with Bitcoin ATMs to bypass banking system

[TECH NEWS]  Ukrainian goes with Bitcoin ATMs to bypass banking system: 

#IoT #News #fintech

  • Ukrainian goes with Bitcoin ATMs to bypass banking systemPosted on August 9, 2017 in Fintech Ukraine will soon have 150 new ATMs for both buying and selling cryptocurrencies, with around 30 of the machines slated to open by the end of August, The Kiyv Post has learned from Mike Chobanyan, head of the Bitcoin agency in Ukraine.The devices will allow both selling and buying hryvnias, the national currency, and a variety of cryptocurrencies including Bitcoins, Ethereum (or Ether), Waves, and Golos.Ukrainian entrepreneurs want to install the ATMs because of the troubled situation with the Ukrainian banking system, which generates problems for businesses, Chobanyan told The Kyiv Post.
  • Using cryptocurrencies allows businesses to bypass the traditional banking sector, he said, declining to reveal the names of the machine buyers.Chobanyan himself brought the first Ukrainian cryptocurrency ATM to Odessa, a city in southern Ukraine, in April 2017.
  • This device allows users to withdraw amounts of at least 500 hryvnias or 0.1 Bitcoin, around $20 at the current exchange rate.Bitcoin began being accepted by pioneering Ukrainian merchants as early as 2014.

Ukraine will soon have 150 new ATMs for both buying and selling cryptocurrencies, with around 30 of the machines slated to open by the end of August, The Kiyv Post has learned from Mike Chobanyan, head of the Bitcoin agency in Ukraine.

@RWW: [TECH NEWS] Ukrainian goes with Bitcoin ATMs to bypass banking system:

#IoT #News #fintech

Ukraine will soon have 150 new ATMs for both buying and selling cryptocurrencies, with around 30 of the machines slated to open by the end of August, The Kiyv Post has learned from Mike Chobanyan, head of the Bitcoin agency in Ukraine.

The devices will allow both selling and buying hryvnias, the national currency, and a variety of cryptocurrencies including Bitcoins, Ethereum (or Ether), Waves, and Golos.

Ukrainian entrepreneurs want to install the ATMs because of the troubled situation with the Ukrainian banking system, which generates problems for businesses, Chobanyan told The Kyiv Post. Using cryptocurrencies allows businesses to bypass the traditional banking sector, he said, declining to reveal the names of the machine buyers.

Chobanyan himself brought the first Ukrainian cryptocurrency ATM to Odessa, a city in southern Ukraine, in April 2017. This device allows users to withdraw amounts of at least 500 hryvnias or 0.1 Bitcoin, around $20 at the current exchange rate.

Bitcoin began being accepted by pioneering Ukrainian merchants as early as 2014.

Instead of simply quaffing booze, beverage companies want partiers to experience brands, and are using the Internet of Things (IoT) to introduce drinking 2.0. Marketing Week reports that drinks maker Pernod Ricard is increasingly using IoT in its marketing efforts for its products. And while talking to your drink at the bar was previously a warning sign,… Read more »

One of the leading providers of software in the kitchen, Kitchen Brains, has partnered with Internet of Things (IoT) platform provider HotSchedules to remove the complexities of technology in the kitchen, whilst also providing hot, fresh food available as soon as possible. Kitchen Brains provides a Quality Production Manager (QPM), while HotSchedules offers the IoT… Read more »

John Rossman is a managing director with the global technology consulting firm Alvarez and Marsal and a prior executive with Amazon. An influential digital strategist with over 25 years in technology. He spoke ReadWrite about his latest book  “The Amazon Way on IoT: 10 Principles for Every Leader from the World’s leading Internet of Things… Read more »

Ukrainian goes with Bitcoin ATMs to bypass banking system

You might also like More from author

Comments are closed, but trackbacks and pingbacks are open.