British refuse and recycling company, Business Waste, announced on December 18, 2017, that it would be the first garbage collection service in the nation to accept bitcoin as a payment method. The company, based out of York, UK, has stated that it will be accepting commercial contracts paid for in the cryptocurrency.
Business Waste claims that the move is neither a publicity stunt, nor designed to take advantage of bitcoin’s rising price, but instead a logical business decision. According to them, the cryptocurrency is merely another way for customers to pay for their services, since at the end of the day, bitcoin is just money in digital form.
The company believes that British companies should embrace the 21st century by processing payments in whatever form is made available. Since many individual investors and businesses are working directly with bitcoin, it was a no-brainer for them to accept cryptocurrencies.
Should bitcoin be infeasible for either the company or its customers, Business Waste announced that it would be accepting payments in litecoin and ether as well. When the company was asked whether they expected only tech companies to use the payment option, a spokesperson remarked that many ordinary individuals have begun mining and trading cryptocurrencies by themselves and are looking for avenues to purchase goods and services using them.
Business Waste is indeed the first company in the garbage business to be accepting cryptocurrencies as a payment method, but this move is perhaps a sign for things to change as more and more businesses make a similar decision. As of now, even outside of the garbage niche, the company is one of the very few that support digital currencies in any capacity.
On the other hand, acceptance of bitcoin among other cryptocurrencies has been on somewhat of a decline in 2017, especially with smaller merchants such as Steam reversing their decision to accept the cryptocurrency as a payment method citing high transaction fees and wait times. As such, with the rapid influx of new investors and the surging price, the cryptocurrency has been looking increasingly like a store of value than an actual currency.
Interestingly enough, the other association that bitcoin has had with garbage is the multitude of news reports emerging in the past few years detailing the efforts of some rather unfortunate people attempting to dig up landfills in search of their old hard-drives that once held copious amounts of the cryptocurrency. Some of those individuals would be worth millions, if not more, had they not lost possession of their wallets.
With bitcoin almost breaching the $20,000 barrier in December 2017, many people and companies who previously distanced themselves from cryptocurrencies are now giving them a second look. Business Waste was probably correct in its assessment that the entire world will soon embrace the cryptocurrency ecosystem with open arms.
Other British enterprises are also beginning to hop onto the bitcoin trend. More and more we are seeing individuals offer their services and skills for cryptographic money. For instance, ‘Cryptocabby’ lets you pay with bitcoin and groestlcoin for rides in his black cab (one of the many icons of London) indicating the growing influence of the cryptocurrency scene.