Bitcoin is a perfect fit for the green infrastructure of Slovakia since the digitization of money and blockchainization offer people and enterprises the opportunity to drastically reduce the costs.
Bratislava, the capital of Slovakia, is undergoing a critical change of its built environment due to an enormous process of development since the mid-2000s. This series of construction, transformation and modernizing processes has radically transformed a central industrial locality of the city into a totally new business-administrative district.
At the heart of such a transformation is green infrastructure. Multiple issues are affecting the state of green infrastructure in Slovakia, however, it seems that Slovakia could be on the right track into the future. Bitcoin is a perfect fit for the green infrastructure of Slovakia since the digitization of money and blockchainization offer people and enterprises the opportunity to drastically reduce their costs.
The key element of the Bitcoin physical network as part of Slovakia’s progression in green infrastructure is crypto ATMs. At the end of August, there were 44 cryptomats in Slovakia. Currently, the country has already welcomed 49! Slovakia is on the path to get more such machines because many producers and operators of crypto ATMs see a big potential for their business in this country. One of the local crypto ATM producers, KELTA, after dipping a toe into the water and installing the first own Bitcoin machine on 17th August, is going to scale up its business. According to the source inside of KELTA it’s going to install several more crypto ATMs in Slovakia and eyes the possibilities to expand its operations abroad.
Bratislava Is Passionate about Bitcoin
The local Bitcoin community looks very vibrant, and it fosters the interests of people and businesses into cryptocurrencies. They do amazing things. For example, one of the Bitcoin activists in Slovakia reveals in the tweetstorm that he’s going to rent at least one JCD Citylight in the center of Bratislava, for 21 days for 210 EUR, just to spread Bitcoin promotion to the people in the capital’s downtown.
Bitcoin ATMs are on the rise globally. There are 10,211 machines now, and the place is becoming a hot competitive point. Actually, crypto ATMs are gates from fiat to cryptocurrencies and vice versa. There are 558 companies producing such machines, and Lamassu is one of the oldest manufacturers of crypto ATMs and the third-largest worldwide. There is Lamassu that has already supplied two cryptomats to Bratislava. As it was mentioned above, the Slovakian Bitcoin community is very passionate about cryptocurrencies, and it’s a crucial factor for the adoption of crypto ATMs. To be a Bitcoin evangelist is a great career path too, as the example of Lamassu shows. On 11th September Lamassu confirmed that the company took on board Lucas Betschart since “few people have the integrity and dedication to the cause that Lucas has, and his experience promoting and navigating Bitcoin in Switzerland will benefit us greatly.”
From Euro to Bitcoin
There are only 42 global operators of crypto ATMs worldwide. So the niche for being an operator has more opportunities to thrive than the producers’ side that seems to be overcrowded. The development of such crypto infrastructure is a backbone of the transformation of the burgeoning DeFi sector when it achieves the inflection point where the online business and cryptocurrencies meet. To pay an invoice in Bitcoin, to withdraw euros and Bitcoins at one point is the key for the further cryptocurrencies adoption. It’s worth mentioning that crypto ATMs become an integrated part of the business landscape of the global capitals that only highlights that humankind rushes into the new financial world.
Slovenia, Cyprus, Malta, and Slovakia became members of the European Monetary Union in 2007-2009 years. There was a very challenging part of their monetary history. As a result, the currency union increased trade.
Times change and so do people and their financial habits. We see the dawn of the Bitcoin epoch. Bitcoin allows for a business to go fully green since cryptocurrencies in their inner nature have all functions allowing their holders to get all financial services at two clicks putting aside almost all burdensome paperwork. Any modern crypto ATM as the case with KELTA shows includes the “door” into the innovative ecosystem where the use of financial services gets crypto haute mode.
The cryptomat becomes the ultimate solution for financial services, and the Bratislava Bitcoin community is absolutely right in its enthusiasm. The recently installed KELTA crypto ATM accepts “any payment card”, and it beats options of the most classical ATMs.
As blockchain gets more adoption this paper work becomes redundant. There are about three million classic bank ATMs worldwide. The development cryptomats make it a case that they will substitute the classical “machine bank tellers”, and Slovakia shows us that this trend takes a new turn.
Cryptocurrency investor, journalist, analyst, and growth hacker. I cover crypto, blockchain, crowdfunding, and education.