Ukrainian shipping company that bitcoin can make global trade faster and more secure

nRunaway Comment: A deal currently under negotiation between Varamar Ltd., a Ukrainian shipping company, will be paid in bitcoin and will continue to be used in the future. This new payment method not only increases efficiency and reduces costs, but more importantly, companies in countries where the government is subject to international sanctions have the opportunity to trade normally and to pay for it. Moreover, the current supply chain and trade finance blockchain testing has been carried out in the world, the future of the global shipping industry will also benefit from it.n
nTranslation: Annie_Xun
Ukrainian shipping companies negotiate the first Bitcoin transaction, allowing the global shipping industry to see the huge benefits of using Bitcoin.n
Varamar Ltd., the shipping company in Odessa, the southern port city of Ukraine, will be among the first shipping operators to receive bitcoin payments. Bloomberg reports that the company is currently negotiating the first Bitcoin transaction and will accept the cryptocurrency in the future.n
Shipping is one of the oldest industries in the world and has never actively adopted new technologies. However, bitcoin can solve an important process problem that is common in contemporary shipping industry and that is payment. In particular, the world’s first and foremost cryptocurrency will enable shipping operators to trade with countries that have been internationally sanctioned because sanctions have affected the traditional payment by banks.n
Alexander Varvarenko, founder of Varamar, said:n
n”The written transaction process is a complex issue for banks and Bitcoin payments will speed up the process and help solve the problem. It can also help to solve the payment problems in Pakistan, Russia, Sudan, Yemen and Qatar, where the company is safe, but Become victims of government sanctions. “n
nOther industry players are chasing. Interchart Shipping Inc., a Russian leasing and forwarding agency, is said to be setting up payment channels through Bitcoin because some customers can not trade in U.S. dollars through banks. Quorum Capital, a Gibraltar-based food trader, one of the company’s partners, is keen on this “new payment method,” while acknowledging the need to work hard.n
Ivan Vikoulov, managing partner at Quorum Capital, said:n
n”The industry has been under pressure because most of the ships are offshore, and many shipowners’ banks are in the Baltic.n
nThe shipping industry has invested heavily in blockchain-based businesses and some of the pilot projects around the world have tested the entire trade finance and supply chain transactions on the blockchain. Using bitcoin as a payment method while deploying blockchain technology, decentralized technology will benefit the global shipping industry in terms of efficiency and profitability.n

Leave a Reply

Your email address will not be published. Required fields are marked *