After a revolutionary change of rules by the Central Bank, which now allows the entry of new ATMs, the Odyssey Group consortium is trying to change the market through an innovation that includes cryptocurrencies, with the implementation of 4,000 bidirectional ATMs for Ethereum, Bitcoin and Litecoin.
Apparently, they have furnished the ATMs with what could be called "a wallet". In addition to its main objective of withdrawing money from the bank, the ATM could also communicate with a smartphone, thus providing micro-loan services, or of course cash for the aforementioned cryptoactives.
In this regard, Sebastian Ponceliz, CEO of Odyssey Group, told the local media:
They are not going to be just cashiers for people to get money, but also to issue prepaid cards that can be used for electronic commerce, transfers through Blockchain, cryptocurrencies and microscoring linkeo for microcredits.
According to previous reports, about 250 of those ATMs were installed in October 2017 and Ponceliz stated, "we now have prior agreements to install 4,000 ATMs, the plan being to have 5,000 in two years, approximately "
The cost of one of these ATMs is $ 8,500 dollars, with a return on investment through the rates that are expected in just six months, as established.
The above seems to be quite attractive, taking into account recent orders, especially because this is the only ATM that is known to serve both bank money and money for cryptocurrencies.
It is also one of the few that also serves Ethereum, in addition to much smaller litecoin and, of course, Bitcoin.
This would provide a new infrastructure in a country that currently suffers from very high inflation and monetary management with unfavorable results.