Flat 128 bitcoin atm manufacturer
South African regulators usually follow the lead of U. But Rolf Deppe, who purchased the Bitcoin ATM for South Africa, said the Lamassu product could get around certain stringent regulations since it's more like a vending machine.
Lamassu machines only allow cash-in, bitcoin-out transactions the company also plans to offer a cash-dispensing floor stand called Santo Tirso. However, "at the moment there is no proper legal guidance with regards to Bitcoin" in South Africa, he said. The partners are using the machine more as an educational tool and proof of concept, rather than a way to make a profit, Deppe said.
While Deppe is happy with Lamassu's product, other clients haven't been impressed with the simple backend which, for instance, does not provide data on transaction volumes and totals. Lamassu's software is completely open source, meaning people interested in purchasing a machine can see what functionality is available and customize the software for themselves.
Recently Lamassu made a minor update to machines sold in Switzerland, enabling operators to comply with local regulations. The update added a screen that asks users to agree to buy bitcoin only for an account they own. Lamassu has shipped machines to 45 countries so far, with 70 to 80 of them in operation. Others are possibly sitting unused in countries where the regulatory environment is too caustic to permit their use. For example, an operator in Ecuador received a Lamassu Bitcoin ATM two days before the country's Congress banned Bitcoin and other decentralized digital currencies.
While Lamassu won't take the machine back and refund the Ecuadorian operators, Harvey said, the company would help the operators find a buyer for their machine. Crypto's smart contracts can revolutionize legal payments, and the legal profession.
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Over the course of time I used the machines quite a bit at all of their.