While there are instances of people buying a home or paying their rent with Bitcoin, it seems that the vast majority of transactions are relatively minor. However, the cryptocurrency is starting to move into the much deeper waters of international commodity trading where the stakes, and the amounts, are much higher. A Ukrainian shipping company, Varamar Ltd., has announced that they will start accepting Bitcoin as payment.
Shiver Me Timbers!
Varamar Ltd. is currently is in negotiations with a client that will see Bitcoin being used as the means of payment. The founder of the shipping company, Alexander Varvarenko, says that accepting Bitcoin has a lot of advantages. He says:
Paperwork for transactions is a complicated issue with banks, and bitcoin payments will help solve that by being faster. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen, and Qatar, which have safe companies but are victims of sanctions being imposed against their governments.
This is pretty big news and shows the increased acceptance of Bitcoin into the mainstream financial world. Bitcoin allows for quick and easy payments across national borders without all the hassle of layers of bureaucratic paperwork…