Published On: Sat, Feb 18th, 2017

Daimler May Use Bitcoin to Finance Africa’s Transport Demands

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After buying up digital currency transfer company PayCash, Daimler has signaled it may use digital currency to build up its presence in Africa.
Daimler: ‘Clear Signal Of Further African Growth’
The continent is providing huge demand for transport networks, yet businesses are continually faced with financing problems, the vehicle giant told industry magazine Autconomy this week.
“We are already present in over 30 marketplaces in Africa and are still expanding both our product range and our service operations network,” said a spokesperson. “This is a clear signal that we expect further growth in Africa.”
The scale of under access to financing means in developing economies is staggering. Two billion individuals and 200 million companies lack suitable support, Autconomy says, giving a clear advantage to digital currency-based alternatives, which businesses can use to cut out hungry middlemen.

When Daimler quietly purchased Luxemburg-based digital currency transfer operator PayCash last month, Bitcoinist speculated what may lie ahead. Now, it appears, details are becoming clear.
“The major problem observed in the automotive sector is lack of adequate financing facilities,” Eskinder Desta, managing director of Habesha Capital Services Ethiopia, said underlining the current issue.
‘Digitization of Entire …

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