Bitcoin: Greece’s new euro workaround?

atmcube11 July 2015 / Fortune – Dealing with Greece’s currency restrictions could be as easy as heading to an ATM.

Joaquin Fenoy was wandering the streets of Athens Friday, doing his bit to ease Greece’s currency restrictions. He wasn’t handing out cash, but rather installing an ATM with a withdrawal limit of €1,000 (about $1,100). That’s €940 above the €60 daily ATM withdrawal limit the Greek government put in place to stop a bank run as its creditors decide the country’s financial fate.

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There is one catch, though: You need to have the virtual currency bitcoin to use it.

Fenoy, 36, is the CTO of Bitchain, a four-month-old startup based in the Barcelona suburb of Sant Cugat del Vallés. He and his co-founders—Jordi Alcaraz, 39, and Miguel Alcaraz, 44—launched the company in March to build an international network of bitcoin-based ATMs manufactured by BTCPoint, a Barcelona/Silicon Valley company (and Fenoy’s former employer)…. Read more

http://fortune.com/2015/07/10/greece-bitcoin-bitchain/

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