UPS to Create Locker That Accepts Bitcoin

Global shipping giant UPS intends to build a storefront full of lockers for people to purchase items from without interacting with salespeople
02 February 2018   257

The US patent office revealed a United Parcel Service (UPS) patent application for a computerized item exchange “locker bank” that accepts numerous forms of payment including Bitcoin.

Global shipping giant UPS intends to build a storefront full of lockers for people to purchase items from without interacting with salespeople. The system of lockers where a party trading or selling an item can leave it in the locker for a buyer to pick up at their convenience. Some of these lockers may be configured to accept payments if the parties are renting the locker.

An in-person exchange between private individuals, or other entities, of items sold via a classified ad (such as a traditional or online classified ad), online auction, or online retail sale, can be undesirable due to the inherent danger of exchanging valuable items or cash with strangers. Accordingly, there is a need for improved systems and processes for facilitating such exchanges in a safe and convenient manner.

 

The patent application

It is also stated that in example embodiments, the locker bank may include a point-of-sale (POS) system for accepting payment from users in the form of: a cash transaction;  a credit or debit card transaction; a gift certificate; an electronic payment, such as payment by Google Pay, Apple Pay, PayPal, Bitcoin; and/or any other suitable type of payment.

2k Confiscated BTC Created Issue for Finland Authorities

Authorities of Finland had faced bureaucratic problems while trying to handle seized crypto coins
20 February 2018   10

Finland is trying to solve confiscated Bitcoin storing issue. This is reported by Bloomberg.

The crux of the problem is that authorities handling the coins won’t be able to store them on virtual currency exchanges due to bureaucratic problems. They have to store them offline. This is said in the documents, seen by the Bloomberg.

Most of the coins have been confiscated in raids conducted since 2016. There is no info how the coins were stored until now.

The official guidelines states that Finland authorities can’t treat Bitcoin or its crypto competitors like a currency. It’s an asset that, as a rule, can’t be used or accepted as a means of payment or as an investment, according to the Treasury document.

Cryptocurrencies seized by the Finnish state can be converted into euros after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges, which can be untrustworthy and opaque, the Treasury said.

Finnish state can convert seized crypto to euros only after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges the Treasury said.