Bitcoin Farming software
For most small to medium businesses, a big chunk of their profit goes to credit card transaction fees. Most banks charge at most 3% for every credit card transaction which adds up in a high-volume, low-profit business. Such scenarios are often scene for businesses in the agriculture sector.
For many farmers who sell their goods, credit card is both a blessing and a curse. That is why they’ve found an ally in Bitcoin.
Bitcoin is a digital currency that’s making the waves these days. It doesn’t exist in the real world but it can be found in your computer or smartphone. To know more about Bitcoin, check this Infographics that Bitcoin Daily released few weeks ago. Currently, there are 12 million bitcoin in circulation which is valued at $4 billion. Transactions are done through your digital wallet that you can access anywhere.
La Nay Ferme, a farm Provo, Utah is open to the idea of selling their produce using bitcoins. Owner Clinton Felsted says that he got the idea when a crew for the documentary Life on Bitcoin approached him about accepting the currency. At present, he is working on an easier Bitcoin payment system that should be operational this year for his customers.
He says that “taking money with you is a real stick, and it’s a real security problem. With Bitcoin you can take it anywhere with no risk. If I ever need my money, I don’t need to find an ATM machine.”
But he adds that in their town, only a few business establishments are accepting Bitcoin so what he does is converting it US dollar for a lower fee.
“Bitcoin Farmer” in Argentina
The Bitcoin phenomenon is not only sweeping the United States. Currently, it is one of the most prominent alternative payment options in Argentina. That’s why it is slowly adopted by farmers in Argentina. Argentinean organic farmer Santiago Zaz started Tierra Buena two years ago to deliver their produce to customers from their community’s farms. He saw this as an opportunity to create a website for online purchases.
Together with friend and software developer Nubis Bruno, they created “one of the first produce-for-Bitcoin” website. Bruno says that these days, out of 10 sales, at least one pays in Bitcoin. And just like Felstad, Zaz also converts it into Argentinean peso.
