Local Bitcoin Cash wallet provider Centbee has revealed a rather exciting plan at the first ever CoinGeek conference in Hong Kong.
That plan involves the speedy development of a point of sale software development kit (SDK) that would allow merchants to accept Bitcoin Cash as payment.
“Merchant acceptance of Bitcoin has been very limited to date. Centbee announced earlier this year that we would roll out mechanisms for merchants to accept Bitcoin Cash payments without exposure to price volatility and without installing new terminal hardware. This SDK is that global payment system,” Centbee co-chief executive officer Angus Brown said in a media statement sent to htxt.africa.
While we have seen retailers such as Pick n Pay run trials where cryptocurrency was used to make purchases, that doesn’t seem to have made it past the trial stage.
Perhaps this SDK – which Brown says doesn’t require new terminal hardware – might be the catalyst that sees the widespread use of Bitcoin Cash.
The project is being funded by nChain which, you might recall invested in Centbee earlier this year through the nChain Reaction business unit.
“As Centbee has focused on user-friendly Bitcoin wallets and merchant payment solutions we have partnered with them to ensure retailers can accept Bitcoin Cash at in-store points of sale for goods and services. This SDK will make it easier for merchants, through their PoS systems, to join the world of bCommerce,” nChain group CEO Jimmy Nguyen said of the project in a statement.
It’s hard not to feel a twinge of pride at this news. Centbee was started by Brown and Lorien Gamaroff at Rand Merchant Investment Holdings’ Alphacode which invests heavily in fintech.
We’re excited to see the fruits of this project and maybe spend a bit of Bitcoin Cash during our monthly shop.