Argentina, the forgotten land of the sunlight seems to be trying to catch up with the achievements of the new century. Way to make a technological breakthrough will be the installation of the 4000 ATMs that support Ethereum, Bitcoin and Litecoin.
After changes by the Central Bank in regulations that now allow the installation of ATMs, the company Odyssey Group decided to rip it off with the help of innovations such as cryptocurrencies.
As it became known, the company installs ATMs associated with a cryptocurrency wallet. Besides the basic function of cash withdrawal, the ATM can also “communicate” with your smartphone, to provide services to microloan, exchanging Fiat esters, bitcoins and Vice versa.
Sebastian Poncelet, CEO of Odyssey Group, told local media:
“ATMs are not just cashiers for people who only give money. We are also launching prepaid cards, and they can be used for e-Commerce transactions on the blockchain, cryptocurrencies and microcredit”.
In accordance with previous reports in October of 2017 was installed about 250 of these ATMs. Poncelet, argues that “there is a preliminary agreement for the installation of 4,000 ATMs, and within two years their number will grow to 5000”.
The price of one ATM is only 8 $ 500. Given transaction, the investment will pay for itself in less than six months.
Prospect looks pretty attractive, given the recent orders of the company. Moreover, it is the only ATM that works with both Fiat and cryptocurrency.
Moreover, ATM is one of the few, who along with Bitcoin supports such currencies as Litecoin, and Ethereum.
Based on the foregoing, the company, Odyssey Group has the potential to create an entirely new infrastructure in a country that suffers from very high inflation and mismanagement in the monetary sphere, leading to the bankruptcy of many beginnings.