With run-ups in bitcoin’s price setting record highs this year, South Africa’s business sector is beginning to come online, growing the nation’s bitcoin ecosystem. Bidorbuy, South Africa’s version of Ebay, was a relatively early company into the space, beginning in Spring of last year. Since then, the company reports sales are steadily growing after a few bumps along the way.
Bidorbuy South Africa’s 18 Months of BitcoinRoughly a year and a half ago, online South African marketplace, Bidorbuy, the largest of its kind in the country, began what was then-viewed as a radical experiment: the Johannesburg company allowed its customers to pay in bitcoin.
The company uses Ebay’s model, bringing together sellers and buyers in an auction environment. It’s a haven for smaller sellers in the region where buyers can often purchase goods and services at a discount.
Its CEO, Jaco Jonker, explained while transactions in the world’s most popular cryptocurrency remain a fraction of the site’s overall revenue, “the adoption rate of this new and not very well understood method of payment is promising and we expect to see steady growth in the future.”
full:
https://news.bitcoin.com/south-africa-primes-for-bitcoin-its-government-looks-to-reap-benefits/
