Overstock’s Farmers Market service connects organic, local farms with customers, allowing their products to be sold for Bitcoin – without even knowing it.
Aside from the occasional creative Russian farmer or underground market in New Hampshire , the average agricultural worker is not that well-versed in fintech , and as such few are likely to accept BitcoinCT r: 8 for their products. Online retailer Overstock .com, which proudly accepts Bitcoin, launched Farmers Market in 2014, seamlessly connecting farmers and ranchers to customers. Through Overstock, farmers can inadvertently be paid for their products with Bitcoin.
CoinTelegraph spoke to Judd Bagley, Overstock’s Communications Director, as well as the Double Check Ranch, a farm that uses the Farmers Market service, about Bitcoin and the farmers market revolution. Overstock partnering with the “little guy”
Overstock has sought to position itself at the forefront of the online farmers market movement, because, according to Bagley, of former CEO Patrick Byrne’s vision of partnering with small business rather than seeking to drive them out. “Here again it’s Patrick Byrne . In a time when huge retailers, especially online retailers, are constantly running traditional retailers into the ground, Patrick has made it clear that he likes the idea of using our technology to support foundational entrepreneurism. We have projects like WorldStock and Main Street Revolution that exist only to help artisans overseas and in the US to access broader markets through our technology.” As Bagley puts it, farmers in particular represent the core of entrepreneurism, and as such were worth taking a business risk in a partnership possibly ahead of its time. “We see farmers as the most foundational entrepreneurs in existence. Patrick decided to find a way to use the Overstock.com shopping platform to help small farmers reach larger markets – though always remaining local – in […]
