A German manufacturer of ATM and POS solutions – BitXatm – recently announced that it would be installing 1,000 Bitcoin ATM machines across the United States.
The initiative is being done through a partnership with CryptVision, a recently-launched startup based in Los Angeles that aims to create the biggest crypto-currency network in the world.
President of CryptVision, Sergey Yesayan, said, “In terms of positioning our products all over the country, we’re planning to have most of them in place by the end of the year, and are looking for location partners in shopping malls, restaurants and night clubs.”
The units that will be shipped to America are named “Sumo Pro,” and images of the model in various colors can be seen on BitXatm’s website. There is another version meant for specific businesses named “White Label,” as well.
The concern with Bitcoin’s potential has been a matter of its lack of physical availability; while some businesses do accept Bitcoin as valid payment, people who have Bitcoins are reluctant to use them because they’re not so commonplace.
Fred Wilson, a venture capitalist and a member of the Bitcoin Forex Brokers List, explained that “…if there was a very vibrant system where Bitcoin was just getting swapped around like crazy, the velocity of the money would cause Bitcoin’s price to stabilize, and there would be a much more liquid market.”
The supply provided by BitXatm and CryptVision are a necessary response to that demand, in order to get Bitcoin circulating and being used more often. As this practice expands and progresses, Bitcoin will be able to join the ranks of important world currencies.
BitXatm machines will be able to process and distribute any type of digital currency, which will facilitate the circulation of a number of rising currencies. The machines will also let their owners change a number of settings from their computers, tablets and smartphones.
This update was just one of many coming out of the North American Bitcoin Conference (NABC) that took place over the weekend in Chicago.
During this conference, a new non-profit group named the Chamber of Digital Commerce declared that it would be the first government affairs lobbyist for Bitcoin.
It appears that digital currency is set to become a major contender in the global marketplace.