Now all the guests of LUISS ENLABS can also experience the first Bitcoin ATM in Italy. 

Yesterday, Robocoin CEO, Jordan Kelley, has personally inaugurated the first Robocoin Kiosk in frames of the 4th edition of No Cash Day promoted by the Italian Parliament member Sergio Boccadutri and organized by CashlessWay. Headlined as “Bitcoin in the real economy”, this event included the public hearing at the Chamber of Deputies with the participation of industry leaders from Hyperion, Unicredit, the Italian Banking Association, Mastercard, the Bitcoin Foundation and others.

 

Now all the guests of LUISS ENLABS can also experience the first Bitcoin ATM in Italy.

Yesterday, Robocoin CEO, Jordan Kelley, has personally inaugurated the first Robocoin Kiosk in frames of the 4th edition of No Cash Day promoted by the Italian Parliament member Sergio Boccadutri and organized by CashlessWay. Headlined as “Bitcoin in the real economy”, this event included the public hearing at the Chamber of Deputies with the participation of industry leaders from Hyperion, Unicredit, the Italian Banking Association, Mastercard, the Bitcoin Foundation and others.

Robocoin now has the largest Bitcoin ATM network in the world and spans North America, Asia, Europe and Australia. After launching the very first Bitcoin ATM in October 2013, Robocoin has continued making international headlines in order to be the first Bitcoin ATM launched in the United States, expanding intercontinentally, presenting for the U.S. Congress.

Which is the key difference of this ATM?

With a combination of patent pending hardware, software, and reporting tools, Robocoin has emerged as Bitcoin’s leader in Anti-Money Laundering and Consumer Protection. When you make a transaction in Bitcoin ATM, you insert your Phone number and PIN number, as well as validate your palm. This procedure allows to secure customer accounts against theft and fraud. Info is encrypted when collected, transmitted, and stored and never gets shared with 3rd parties and never gets stored on the machines.

Here is a short video, where Jordan Kelley shows the first transaction on Bitcoin ATM:

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The market for Bitcoin is continuously growing. Up till now around 13 millions of Bitcoin were produced, quoted at $500 each, mounting to $7 billion. Everyday about 60,000 of transactions estimated at $15 billion are made, considering only 3 markets out of 50 existing. Approximate number of Bitcoin users are 5 million.

Dave Birch, Global Ambassador, Consult Hyperion, has stated: “Bitcoin is one of the most important inventions after the invention of Internet”.

Why is it so important to use less cash? They say, it is expensive! Retail Banking Research declares that the costs of management, count, storage, transportation and security of cash amounts to €84 billion per year, i.e. €130 for each single European citizen monthly, not talking about production costs. While the European frontier of the future cashless society is Scandinavia with Sweden leading with only 26% of all payment operations made in traditional money, in Italy the same indicator is at 86%!

The diffusion of virtual money can contribute to the modernization of Italian payment system. In fact, the individuals who prefer to go cashless are high-educated people with a discrete propensity to spend and interest to innovation.