Local real estate agency Devler Estates (trading as Chas Everitt in the False Bay and Southern Suburbs) is the first real estate business in South Africa to announce that it will accept comission payments in the digital currency Bitcoin as from 1st June 2016.
“Bitcoin is gaining momentum all over the world and with the Rand being so volatile it is likely to attract increasing attention in South Africa. This will be yet another example of Bitcoin increasingly becoming a real alternative currency and going mainstream in South Africa. ” said Managing Principal Andre de Villiers.
“I decided to make the decision as I enjoy running a very innovative business and we now have an excellent credible South African Bitcoin provider (BITX) here in Cape Town, that was very positively featured on Carte Blanche on Sunday,” said de Villiers. “I wanted to announce this after the Carte Blanche programme as I see an obvious marketing benefit to being attached to this exciting news, and while I am not realistically expecting many Bitcoin transaction to start with, but over the next five years the indications are that the growth and acceptability of Bitcoin is going to grow substantially."
Barclays Bank is now accepting Bitcoin deposits. In 2015, Barclays collaborated with a Bitcoin exchange to allow transactions into its accounts. For the time being, only charities will be able to make use of the facility.
Aiden Sookdin, Editorial Director, The South African Investor recently wrote; “The Sunday Times reports that the bank currently has 75 people working on Bitcoin technology. This makes Barclays the first UK bank to support technology for the digital currency. Barclays isn’t alone, there’s a move to the adoption of Bitcoin technology. It’s happening all over the world. According to CNBC, at least 100 banks have approached a bitcoin wallet provider about integrating its technology into its systems.”
Many South Africans are not aware of how many South African businesses already accept Bitcoin payments, including Payfast, Takealot.com, Runway Sale, Superbalist and dozens more.
For those who would like to read more on Bitcoin in South Africa go to this FSPInvest.co.za