In the past few weeks, there has been a lot of talk going on regarding Argentina and how the country could benefit from adopting Bitcoin. Whether or not they would be using the currency itself or the underlying technology, is less of a topic of concern these days. But, Bitcoffee in Buenos Aires is experimenting with Bitcoin payments right now, and they are not making any fans in doing so.
Bitcoffee – Bitcoin Experiment in Buenos Aires
One of the world’s largest commodities consumed on a daily basis is coffee. In fact, the number of daily poured cups of coffee is larger than the number representing our planet’s population. And it has to be said, coffee is a great way to strike up a conversation, get that last bit of sleep from your brain, or just enjoy a hot beverage.
In that regard, it seemed only a matter of time until we would be able to purchase coffee with Bitcoin. Bitcoffee in Buenos Aires is not the first place to experiment with the combination of Bitcoin and coffee, yet they are the first in the troubled region of Argentina. It goes without saying that many Argentinians frown upon this experiment.
“This is a coffee shop like the type you find in the United States, but with Argentine style. The idea is to have a friendly place where people can relax and be in touch with technology without it being invasive. I often found myself working on projects on my own at coffee shops and bars where, in general, I didn’t have a place to plug in the computer or the cell phone. I noticed a need in this area and I got the idea for Bitcoffee.” – Matias Caputi, Founding Partner of Bitcoffee told DigitalMoneyTimes
While the name “Bitcoffee” could be tied to Bitcoin, there is a different story to the naming process. “Bit” refers to the basic unit in computing and communications. However, it has also left the door open for a connection with “Bitcoin”, and after multiple requests from customers, Mr. Caputi decided to give the digital currency a try as a payment method.
The Bitcoin Success So Far
From a marketing perspective, having customers come up to you as a business owner and asking to accept an alternate payment method, is a blessing. Once you balance the pros and cons of doing so, you can see why Bitcoin payments would be beneficial to both your business and your customers. No transactions fees, no additional infrastructure to set up, less cash transactions,….
One of the things Matias Caputi noticed immediately is the age demographic of people paying with Bitcoin at his Bitcoffee shop. Aged between 15 and 45, these customers are used to interacting with ATM machines and using mobile devices to make payments. And even though the number of customers paying in Bitcoin is still fairly low, those that do use the digital currency are very loyal customers.
Bitcoffee is gambling on bringing technology to the everyday life of Argentinians. Ordering something from their store is done through a digital menu, by entering the selection and name,and then tell the cashier which payment method they will use. For those customers preferring to pay with digital currency, a QR code will be generated on the screen.
“The idea of introducing a digital menu to our customers came to me when I was in Brazil and, at the time, I didn’t speak Portuguese. At a restaurant, I ordered a meal not knowing exactly what it was, and they ended up serving me anything,” Matias Caputi concludes.
Source: Fox News Latino
Images courtesy of Shutterstock and Bitcoffee