Ottawa, ON – Locally owned and operated BitAccess announced today that it will be appearing before the Canadian Senate’s Standing Committee on Banking, Trade and Commerce on April 9th, 2014. Co-founder Haseeb Awan is expected to present the ATM’s unique capabilities and hopefully assist Senator Irving Gerstein in purchasing some bitcoin from the machine. Mr. Awan will also be discussing the benefits of their technology.
The in-person demonstration by BitAccess to key government decision makers is expected to educate the Senate committee on bitcoin’s accessibility and ease of use. This will mark BitAccess’ first global showcase of their latest, 3rd generation, two-way ATM that both buys and sells bitcoin.
“[The Bitcoin] industry will flourish with regulations in place, however everyone involved in the process need to understand the protocol and implementations in detail before [regulating it]” Awan says. This demonstration marks a very important milestone for Bitcoin in Canada as it is the first time elected officials will publicly purchase bitcoin. The Canadian Senate is pursuing an 18-month long study into the “Risks, Advantages and Promises of Digital Currency” that, so far, has been primarly concerned with bitcoin and the Bitcoin protocol.
BitAccess, founded in 2013, is an Ottawa-based start-up with local manufacturing facilities. The company currently employs 10 individuals and is growing quickly. BitAccess manufactures digital kiosks capable of converting fiat currencies, such as the Canadian Dollar, into digital currencies, and back into fiat currencies. Their latest model features the most advanced ID verification technology on the market, and it is the most physically secure model produced by BitAccess to date. The company has a customer base in 10 different countries across 4 continents. For more information on BitAccess, please visit www.bitaccess.co
About the Senate of Canada’s Study
The Senate of Canada’s Committee on Banking, Trade and Commerce has just begun its 18-month long study on the use of digital currencies. Specifically, the committee is looking to understand potential risks, threats and advantages to electronic forms of exchange; at this point they are understanding digital currency. The committee has heard from the Department of Finance Canada, the Bank of Canada, an economic historian, a professor from the Rotman School of Management at the University of Toronto, and a cryptography professor from Concordia. The committee meeting is open to the public and the audio will be webcasted. It will also be televised for future broadcast. For additional information on this hearing, please visit www.senate-senat.ca/banc.asp
To learn more about this event, please contact:
Victoria van Eyk
Bitcoin Strategy Group
139 Bank Street, Suite 200
Ottawa, Ontario, K1P 5N7
Office: (613) 898-8674