Ukrainian Shipping Company Accepts Bitcoin for Faster, Sanctions-Free ...

[BADecker]

Ukrainian Shipping Company Accepts Bitcoin for Faster, Sanctions-Free Global Trade

The global shipping industry could see substantial benefits in using bitcoin as a Ukrainian shipper negotiates its first bitcoin transaction.

Varamar Ltd., a shipping company based in Odessa, a port city in southern Ukraine, will be among the first shipping operators to accept payments in bitcoin. According to Bloomberg, the shipper is currently negotiating its first transaction in bitcoin with a client and will accept the cryptocurrency going forward.

One of the world's oldest industries, the shipping sector is known to be notoriously lazy to adopt new technologies. However, bitcoin solves a critical process that has routinely plagued the modern shipping industry – payments. Specifically, the world's first and most prominent cryptocurrency will enable shipping operators to transact with customers in countries clamped down by global sanctions that affect traditional payments through banks.

Varamar's founder Alexander Varvarenko told Bloomberg:

Paperwork for transactions is a complicated issue with banks, and bitcoin payments will help solve that by being faster. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen, and Qatar, which have safe companies but are victims of sanctions being imposed against their governments.

Other industry firms are catching on too. Russian chartering and shipping broker Interchart Shipping Inc., is reportedly working on establishing payment rails through bitcoin since some of its customers are effectively cut off from transacting in dollars via banks. One of the firm's partners, a Gibraltar-based grain trader Quorum Capital is keen on the "new way of payments" while admitting there was still homework to be done.

Read more at https://www.cryptocoinsnews.com/ukrainian-shipping-company-accepts-bitcoin-faster-sanctions-free-global-trade/.

[avikz]

That was the idea behind a decentralized currency system. To help facilitate cross border trades with minimum mediator intervention and faster transaction processing with minimum possible fees. Even though bitcoin fees are higher for domestic transfers, but it's pretty cheaper when it comes to international transactions. Banks take lot more money than bitcoin for international transactions. So that's a welcoming step for the entire crypto community.

I seriously hope that the shipping company will have a seamless and wonderful experience with bitcoin. Because if they don't face any issue with bitcoin, more shipping or cargo companies will come forward to accept bitcoin. It will overall increase the acceptability of bitcoin among the corporate companies as well and we will be able to see some serious amounts of money rolling in to it. Overall crypto market will have a positive impact.

[Marry Finch]

In Ukraine, things are a little different with financial freedom, than in the same Russia. Despite the fact that only two draft laws on the legalization of the crypto currency have been submitted to the Verkhovna Rada of Ukraine, business structures are not afraid to deal with bitkoy, even though there are no corresponding normative acts in Ukraine yet.
      I hope that Ukraine will become one of the leading countries in terms of the use of the crypto currency and the loyalty of the relevant laws to it.

[Prettymie]

Ukrainian Shipping Company Accepts Bitcoin for Faster, Sanctions-Free Global Trade

The global shipping industry could see substantial benefits in using bitcoin as a Ukrainian shipper negotiates its first bitcoin transaction.

Varamar Ltd., a shipping company based in Odessa, a port city in southern Ukraine, will be among the first shipping operators to accept payments in bitcoin. According to Bloomberg, the shipper is currently negotiating its first transaction in bitcoin with a client and will accept the cryptocurrency going forward.

One of the world's oldest industries, the shipping sector is known to be notoriously lazy to adopt new technologies. However, bitcoin solves a critical process that has routinely plagued the modern shipping industry – payments. Specifically, the world's first and most prominent cryptocurrency will enable shipping operators to transact with customers in countries clamped down by global sanctions that affect traditional payments through banks.

Varamar's founder Alexander Varvarenko told Bloomberg:

Paperwork for transactions is a complicated issue with banks, and bitcoin payments will help solve that by being faster. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen, and Qatar, which have safe companies but are victims of sanctions being imposed against their governments.

Other industry firms are catching on too. Russian chartering and shipping broker Interchart Shipping Inc., is reportedly working on establishing payment rails through bitcoin since some of its customers are effectively cut off from transacting in dollars via banks. One of the firm's partners, a Gibraltar-based grain trader Quorum Capital is keen on the "new way of payments" while admitting there was still homework to be done.

Read more at https://www.cryptocoinsnews.com/ukrainian-shipping-company-accepts-bitcoin-faster-sanctions-free-global-trade/.

This is another good news to bitcoin community but I am not sure if that company will long last to it as the transaction of the bitcoin didn't improve and its fee is still the same.
There will be more company to adopt bitcoin if bitcoin can make the transaction faster and its be will be lower.

[Mei1418]

Ukrainian Shipping Company Accepts Bitcoin for Faster, Sanctions-Free Global Trade

The global shipping industry could see substantial benefits in using bitcoin as a Ukrainian shipper negotiates its first bitcoin transaction.

Varamar Ltd., a shipping company based in Odessa, a port city in southern Ukraine, will be among the first shipping operators to accept payments in bitcoin. According to Bloomberg, the shipper is currently negotiating its first transaction in bitcoin with a client and will accept the cryptocurrency going forward.

One of the world's oldest industries, the shipping sector is known to be notoriously lazy to adopt new technologies. However, bitcoin solves a critical process that has routinely plagued the modern shipping industry – payments. Specifically, the world's first and most prominent cryptocurrency will enable shipping operators to transact with customers in countries clamped down by global sanctions that affect traditional payments through banks.

Varamar's founder Alexander Varvarenko told Bloomberg:

Paperwork for transactions is a complicated issue with banks, and bitcoin payments will help solve that by being faster. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen, and Qatar, which have safe companies but are victims of sanctions being imposed against their governments.

Other industry firms are catching on too. Russian chartering and shipping broker Interchart Shipping Inc., is reportedly working on establishing payment rails through bitcoin since some of its customers are effectively cut off from transacting in dollars via banks. One of the firm's partners, a Gibraltar-based grain trader Quorum Capital is keen on the "new way of payments" while admitting there was still homework to be done.

Read more at https://www.cryptocoinsnews.com/ukrainian-shipping-company-accepts-bitcoin-faster-sanctions-free-global-trade/.

good news!!. this will trigger many countries to emulate what Ukraine is doing

[filharvey]

That's really a great news.This clearly shows that bitcoin is getting in to mainstream as a payment and in future,no big company would be able to avoid bitcoin.

The company's name is varamar.This service would be particularly useful for the countries affected by sanctions like Russia,Yemen,Pakistan and qatar which were restricted from getting access to bank financing.

We could hope that bitcoin in future would be used to bye pass US sanctions by countries like Iran.