The chain of stores of Colombian origin specialized in the sale of aromatic products, Olfabrand, announced that starting this year they will allow their customers to cancel through the payment of cryptocurrencies natively in their physical stores and online sales channels. In addition, they want to incentivize users to use digital assets by offering discounts for the purchase of products.
This is made possible by the fact that Colombia has been in the crosshairs of decentralized growth in regards to the previous year. Several startups announced their intention to venture into the acceptance of Bitcoin as a means of payment. Innovation reaches such a point that by decree of law 1732 the previous year, the innovative business models in regulated industries and special surveillance and control environments were regulated through the entrepreneurship law. This measure was aimed at integrating the operation of Sandbox within the country.
“Our brand has been conceived as a modern technology-based retail company since we are connecting chemistry with the internet of things and we believe that cryptocurrencies are going to be part of the future and that is why we are anticipating as we did with the sale online before the pandemic and what allowed us to open physical stores this year in Bogotá, Medellín and Barranquilla ”, said Andrés Astaiza, founder and director of Olfabrand.
The announcement is part of an expansion strategy by the company, and according to the Diario del Cauca web portal, they consider that allowing access to a growing digital economy will allow them to encourage market growth that occurs through the digital economy , allowing it to be easier for your younger customers to access the products offered without the need for a bank account that is also linked to credit or debit cards.
Olfabrand expects to obtain results by 2022 in which 10% of its sales will be made through cryptocurrencies, and in ten years from now, that this number will be increased by 90% of its total income.
The opportunities that arise in the sector are served for companies that take, like the chain of stores, the initiative to expand into the national market. As stated in the cited source, this would be the first large conglomerate in the country that ventures into the acceptance of cryptocurrencies as a payment method. However, the greatest milestone for the nation belonging to the Andean region would be the acquisition of the Brazilian company Remessa Online, which, thanks to the use of decentralized technology, allows the use of its services for border payments. Thus, it is clear that thanks to companies such as EBANX and Olfabrand, despite being the third country behind Argentina and Venezuela, the growth of the sector will be taken advantage of by those investors in the country who are willing to set decentralized goals on their horizon. .
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