Odd, but maybe still holds equity or something, and wanted to ensure that the corporate funds (treasury) is not depleted, so putting funds in bitcoin not only gives public visibility (to him at least, as he knows the address(es)), but with multisig, the comfort knowing that spending from it would need (cryptographic) signatures of multiple execs.
Project Mano has been working with very inspiring group of talented hackers with insane achievements. Today @OctagonNetworks becomes the first Ethiopian company to convert it's entire balance sheet into #Bitcoin as well as accept Bitcoin for their services with a huge discount.
As security researchers, engineers, and hackers distributed across multiple third-world countries, we have always admired Bitcoin’s ongoing contributions to the advancement of humanity, and now appreciate how it has opened the door for us to expand our work across borders!
[...] will also start accepting Bitcoin payments for all of our services, with a 50% discount when paid in Bitcoin.
Our inspirations for these ideas are many, but our implementation of this specific model was inspired by MicroStrategy Inc, based in the US.
Bitcoin Magazine had an article, on this development:
Octagon Networks: First Cybersecurity Firm To Convert Balance Sheet Into Bitcoin
https://bitcoinmagazine.com/business/octagon-networks-converts-full-balance-sheet-into-bitcoin
Coincidentally, (or not), the central bank in Ethiopia has released a statement:
National Bank of Ethiopia warns against transactions in digital currencies | FBC
#34520
https://www.fanabc.com/english/national-bank-of-ethiopia-warns-against-transactions-in-digital-currencies
Bitcoin Magazine had an article, on this development:
Octagon Networks: First Cybersecurity Firm To Convert Balance Sheet Into Bitcoin
https://bitcoinmagazine.com/business/octagon-networks-converts-full-balance-sheet-into-bitcoin
+Seems like an odd combo of a blog-post, no? It's like -- "We switched to sats, my work here is done. BTW, I'm out, good luck sukkaz"
Odd, but maybe still holds equity or something, and wanted to ensure that the corporate funds (treasury) is not depleted, so putting funds in bitcoin not only gives public visibility (to him at least, as he knows the address(es)), but with multisig, the comfort knowing that spending from it would need (cryptographic) signatures of multiple execs.
It’s not clear how big their balance sheet is tho
This is timely with all the recent developments in Africa.
At least their timing seems better than other companies so far