The traffic fine administrator in South Africa opened the door for their customers to pay the fines in Bitcoin. The decision by Cornelia van Niekerk was recently inspired by the huge mainstream drive Bitcoin, which implemented many businesses to adopt.
Van Niekerk’s company represents a new wave of individual adoption where users are thinking out of the box in order to be a part of the cryptocurrency flood, hoping not to be left behind.
Fixing the fine
Fines4u works as a mediator and help companies and individuals pay a fine, receive money for a penalty and pay for a government agency. Van Niekerk says that she manages traffic fines for about 500 companies and about 8,000 individuals.
Van Niekerk decided, after entering the Bitcoin market in his own capacity in June and tried to allow more bitcoin to advance to have a great payment method for her services.
A different kind of adoption
That was a time when Bitcoin was much closer aligned to be a digital currency, the adoption of digital currency necessitate POS systems being integrated into the businesses and the retailers. Anyhow, things are developing as the currency moves towards being more of an asset.
now, with the all-time high stimulus, and the wave of personal adoption, those involved in the digital currency want to take a big plunge. Van Niekerk’s plan is to acquire Bitcoin and store it as a property and pay a penalty as part of its service with a local currency taken from the business.
She will decide the best amount of customer traffic penalties and give them a Bitcoin amount that is valid for a limited period.
She receives payments through her own Luno wallet and deposits money on behalf of the client for paying penalties.
When Van Niekerk announced the announcement, she said the reaction was overwhelming, but the flooding in Bitcoin was not as thirsty for her client’s knowledge.
Van Niekerk said:
“I deal with many clients on a daily basis, many of whom are big businesses. Suddenly everybody wants to get more information from me about Bitcoin.”
There is a doctor in South Africa who is doing a similar job, receiving bitcoin for his service, and then putting money into his own pocket business.
He actively promotes this as a payment method and pays four or five clients at Bitcoin for a period.
Bitcoin as a payment method is Not into the level
Most of the people are trying to get involved with the Bitcoin, doing what they can receive for it, Werner van Rooyen from South African Exchange Luno, said that the use of Bitcoin for payments is actually decreasing.
“Most people see it more as an asset class and if you really believe it’s an asset, you think it might be worth more in future, you don’t want to dispose of it.”
He also explained the other reasons for the relative decline in payments using the Bitcoin is:
“The Bitcoin network has more transactions and users than it can currently properly handle, so the cost of sending Bitcoin and making a payment has become slower and expensive to the point where it isn’t a viable method to pay for your cup of coffee.”