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Greece looking to Bitcoin?

Greece looking to Bitcoin?

As Greece’s economic state within the Eurozone continues to crumble, the people of Greece have kept up protests outside of the Greek Parliament where a third economic bailout agreement is being moved forward.

What does any of this have to do with Bitcoin? In countries where citizens are confident or comfortable with their national currency, the trend of acceptance for Bitcoin has been an embrace by a select few of idealists, and dismissal by the masses as a legitimate form of currency. But in a desperate environment, where a countries people can no longer count on their government to provide them with a stable form of currency, a country such as Greece, Bitcoin could be a viable solution.

According to an article from coindesk.com there are Bitcoin advocates springing up trying to raise awareness of the crypto-currency in hopes the people of Greece can take their economic future into their own hands. Tavern owner, Nikos Houtas says in the article, “No one in Greece has asked me whether I accept bitcoin, but I hope that this will change due to the capital controls. Bitcoin has the potential to be successful in Greece, we need more stores to accept bitcoin and to offer a discount for bitcoin payments.” It has also been reported that Bitchain, a Bitcoin ATM company that has deployed a machine in Greece has seen “in two days…over 70 transactions, and the support from the Bitcoin community has been overwhelming.”

Bitcoin may not be the solution to Greece’s economic problem; the roots of that issue go much deeper than currency. But the more people who are aware of the strengths and application of Bitcoin, the more likely to change the dynamic.

Source – Coindesk.com

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