Varamar Ltd. a Odessa shipping company will be among the first shipping operators to accept payments in bitcoin. The company is negotiating about its first transaction in bitcoin with a client. Then it is going to accept the cryptocurrency too. Working with bitcoin will reduce the time and quantity of documents than is used in standard banking applications. It can also help in dealing with countries affected by sanctions.
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.
founder of the Varamar Ltd.
Other shippers are also considering using bitcoin deals. For example, Russian Interchart Shipping Inc. is working on a system to let them pay in bitcoin because some their customers aren’t able to easily transact in dollars due to bank restrictions.