ATMIA and Tremont Capital Group Release Research Report on Bitcoin ATMs
The ATM Industry Association has released a commissioned research report on the digital currency Bitcoin. This report, a first in the industry, provides an insightful and well-organized view of this new form of payment and what it may mean to the ATM industry.
Written by Tremont Capital Group, one of the nation’s leading consulting firms specializing in the ATM industry, this report is titled “An Introduction to Bitcoin ATMs” and contains special reference to North America where the currency originated.
“We’ve been asked as an industry body to comment on the significance of Bitcoin and digital currencies to the ATM and cash industries,” Mike Lee, ATMIA’s CEO, said.
“This paper is our first report of many which will enable us to draw some logical conclusions about how Bitcoin will affect payments and regulations in future.”
The comprehensive analysis, conducted by Sam M. Ditzion, a widely respected ATM industry expert, offers an overview of the history of Bitcoin, how the currency works, recent controversies, the evolving regulatory landscape, and the expanding role of Bitcoin ATMs.
Bitcoin, which allows people to send and receive payments within an entirely decentralized peer-to-peer network, has quickly become the most prominent form of “digital currency” in the world. While still in its infancy, the deployment of Bitcoin ATMs addresses some of the most significant challenges associated with exchanging cash for Bitcoin in an easy, instant, safe and fully transparent way. Tremont Capital Group expects that a wide range of new Bitcoin ATM manufacturers and deployers will emerge in 2014 and that the regulatory environment worldwide will continue to evolve.
The research report is available free to all ATMIA members, or for purchase by non-members until April 30, 2014 at a discounted price of $145.00 USD (regular price $195.00). Non-members can also go to the ATMIA website for more information about the benefits of membership.
“While many consider it a fringe currency,” Tremont Capital CEO Ditzion explained, “Bitcoin – or another similar digital currency with extraordinarily low transaction costs that may emerge in the future – could have a significant impact on the global payments industry. If Bitcoin gains traction to become a more widely accepted alternative currency, Bitcoin ATMs could become one of the most convenient distribution channels available to consumers for exchanging Bitcoin from and into cash.”
About Tremont Capital
Tremont Capital Group is the leading provider of business strategy consulting, research, and merger & acquisition advisory services to the ATM and related industries.
To learn more about the services provided by Tremont Capital Group, please visit http://www.tremontcapitalgroup.com/ or call 617-482-8866.
About ATMIA
The ATM Industry Association, established in 1997, is a non-profit global trade association with approximately 4,000 members in 60 countries. As an independent, non-profit trade association, our mission is: to promote ATM convenience, growth and usage worldwide; to protect the ATM industry's assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations.
If you wish to join, please contact a member of the ATMIA team: https://www.atmia.com/
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