According to an announcement from organizer Justin Drake of financial services firm Anthemis Cambridge is going to get the first Bitcoin ATM which is all set to open at St John’s Innovation Centre on Thursday. He informs that the alternative currency dispenser will be attended by a team of five at the launch which runs from 3pm to 6pm at the Cowley Road site.
Justin Drake was heard saying that it will take two minutes to create a Bitcoin wallet. Elaborating his statement further he said that what users need is bring only notes no coins, no cards. He said that card transactions are reversible as well. According to him users can download the app from BlockChain.info to their Smartphone, android or Windows phone.
Justin Drake admitted that entire process to follow from users is to create a Bitcoin address for their and they will be able to receive and spend funds. A student of Mathematics at Cambridge University before working for St John’s-based Argon Design for three years, Justin Drake still lives in the city and is familiar with existing establishments which accept Bitcoin.
Elaborating further Justin Drake said that there are five city traders where users can make purchases using Bitcoin. According to him these are the Devonshire Arms off Mill Road, the Haymakers in Chesterton, CeX near the Grafton Centre, Mill Road Butchers and a Sushi course. He seemed quite enthusiastic about the latest developments in the city.
The organizer of the event admits that the opening of the city’s first crypto-currency facility for public use itself is likely to draw at least 100 people. The interested parties according to Justin Drake need to pre-register. Those who want to find out more about what they can expect when they convert their pounds sterling into the world’s first virtual currency, they need to visit here.
Why St John’s Innovation Center?
This may be because St John’s Innovation Centre provides early stage knowledge-based companies with tailored business services and flexible accommodation and Bitcoin technology falls in to the same category. In fact, being the first innovation centre of its kind in Europe, it naturally attracts Bitcoin backers.
Being a successful name in business incubation it offers experience, contacts, resources and a presence in the community. Moreover, located at the heart of the Greater Cambridge technology cluster, in which it plays a pivotal role, it is an ideal selection for Bitcoin ATM which is going to serve hundreds of tech savvy users.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org