Bitcoin has almost become a household name in Nigeria, especially in the lips of youths who sees it an adventurous way to invest.
But sadly Bitcoin is under-utilized due to insufficient ATM machine.
Daniel Adekunle Omoshola, the CEO and founder of Blockstale recognise this challenge and worked tirelessly for three years to innovate the Bitcoin Teller Machines machine.
He discovered that Africans were quite rigid when it comes to innovation and personal interaction with high technological devices.
His goal was simple – To increase the presence of Bitcoin in Nigeria. Together with Daniel Adeyika Oluseye, the co-founder of Blockstale innovated the Bitcoin machine which is situated at Ajah Lagos is the first Bitcoin Teller Machines in Nigeria.
He said the machine has a door alarm system, a remote tracker and some bio scanners, which make it unattractive to theft.
The machine does not operate through debit or credit card but rather works through a scannable QR code that links to a mobile bitcoin wallet.