An e-commerce firm, KAVWIN Nigeria Limited, has declared its readiness to accept cryptocurrencies, such as Bitcoins, TheBillioncoin (TBC), as medium of payment for goods and services.
Bitcoin is a decentralised cryptocurrency used as means of exchange in some advanced countries.
KAVWIN Nigeria Limited Managing Director Dayo Okewole, described the firm as Nigeria’s first e-commerce company to accept cryptocurrencies as medium of payment for goods.
According to him: “Cryptocurrencies are decentralised currencies that are making transfer of money easier globally. There are countries, such as Japan that have legalised it as their national legal tender. In countries like United States, you can spend TBC in different shops. There are Automated Teller Machines (ATMs) around the world where you can cash in or cash out Bitcoin. Like any e-commerce company, you can shop on our website, paying with the Cryptocurrencies.”
He said Cryptocurrency was not created by the government or any organisation; rather it was created to make payment of goods and services easy.
He admitted that it faced a lot of criticisms in the early days but now it is widely accepted all over the world.
“We believe we should be futuristic in our thinking, In this part of the world we tend to be technology backward, for example, the first time I saw ATM machine was in a movie but now it is virtually everywhere in the country. We believe as futuristic Nigeria we should not relegate ourselves because the world is moving fast in technology. We should try as much as possible to pioneer leading to catch up with the world,” he said.
Okewole added that cryptocurrency unifies the world, saying: “Right now Nigeria banking community are working to see modalities where Cryptocurrencies can be acceptable in Nigeria.”
Okewole said the masses stand to gain by accepting Cryptocurrency because of the easy transfer of funds, purchase of items and catching up with global world.
“Cryptocurrencies have wallets and those wallets are mobile wallets. They are internet baths, they are not actually tangible. They are virtual wallet that you can use to do your transactions,” he said.
Source: http://thenationonlineng.net/e-commerce-firm-introduces-cryptocurrency/
