Local Bitcoin wallet provider Cash Centbee revealed a rather exciting plan at the very first CoinGeek conference in Hong Kong.
This plan involves the rapid development of a point of sale software development kit (SDK) that would allow merchants to accept Bitcoin Cash as a form of payment.
“The acceptance of Bitcoin by traders has been very limited to date. Centbee announced earlier this year that we will be rolling out mechanisms that allow merchants to accept Bitcoin Cash payments without exposure to price volatility and without installing new terminal hardware. This SDK is that global payments system, ”Centbee Co-Managing Director Angus Brown said in a press release to htxt.Africa.
Although we have seen retailers like Pick n Pay trials where the cryptocurrency was used to make purchases, it does not appear to have passed the stage of testing.
Perhaps this SDK – which Brown says doesn’t require new terminal hardware – could be the catalyst that sees the widespread use of Bitcoin Cash.
The project is funded by nChain who, you may recall, invested in Centbee earlier this year thanks to 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 that retailers can accept Bitcoin Cash at point of sale in-store for goods and services. This SDK will make it easier for merchants, through their point of sale systems, to join the world of bCommerce, ”said Jimmy Nguyen, CEO of nChain group, of the project in a statement.
It’s hard not to feel a pang in my heart 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 some Bitcoin Cash on our monthly shop.