Online retailer Overstock.com recently announced their plans to donate 3% of profits generated through Bitcoin sales to organizations that advocate for digital currencies. This move was accompanied by an announcement that, by September, the company anticipates that they will be enabling Bitcoin transactions internationally, to virtually any person/company.
A company spokesperson for Overstock mentioned, “Any revenue from Bitcoin sales that Overstock.com donates will go to support the adoption of cryptocurrencies in general, not necessarily Bitcoin in particular.” This opens up a world of possibilities for both Overstock and other places that advocate for or support cryptocurrencies.
While the company currently only accepts Bitcoin in the United States, they may be expanding internationally as soon as September. According to Overstock’s CEO, Patrick Byrne, the company is expecting about $10 million in sales to come from Bitcoin this year, up from their original estimate of $5 million. Byrne mentioned that their Bitcoin sales could even reach $20 million.
One way to reach these impressive sales figures is to consider expanding their use of Bitcoin and other digital currencies to Afghanistan women and other women in developing countries including Pakistan, Egypt, Mexico, Nigeria.The economies of Central Asia and Africa and many women are now turning to Bitcoin and other digital currencies to earn their livelihood through websites like WomensAnnex.com. This allows these women to participate in and be competitive in a global marketplace. If Overstock began accepting digital payments, it would give these women an outlet for purchasing clothing and household items that they can’t get in Afghanistan.
Here is a film of our Afghan Girls' view about our Media Lab project In Afghanistan. This video shows the students' thankful massage from the project in schools and the benefits of Media Lab project:
Women in developing countries have many more opportunities than in years past, thanks to the Internet. A large part of helping these women become self-sufficient involves giving them jobs that pay well. Bitcoin and other digital currencies enable these women to join the workforce on a global scale, because it “levels the playing field” for workers. By supporting Bitcoin and other digital currencies, Overstock is helping to support this vibrant world economy - one satoshi at a time.
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