Good news comes finally for Litecoins, as the currency is now being officially accepted as one of the payment methods at Tealet, the world’s first online Farm-Direct tea marketplace ever to have accepted digital currencies.
At the start of the year, Litecoin has promised to play a major role in the forex market. But the currency faced a sharp fall, on the accord of Bitcoin’s very own fall, after the arrest of BitInstant CEO Charlie Shrem on the charges of money laundering. Amidst the havoc were few decent reports reflecting the Litecoin’s use in humanitarian activities.
With Tealet accepting it as its payment option, Litecoin has taken few little steps towards becoming the next Bitcoin – a speculation on which it has either been praised or criticized for.
Meanwhile, Tealet has its own reason for accepting Litecoins. The company has previously taken an initiative to cut out the middlemen, eliminating the inefficiencies in the global tea distributions systems. The company’s official website mentions the unnecessary 15% margins on tea they sell through the current global distribution system and dictates their mission to cut out the middlemen by introducing digital currencies as payment methods.
The company has already been accepting Bitcoins as its primary currency. They have in fact initiated their services only to make sure that the tea producer get the full wage for his skill and hard work, while he consumers get to receive the better quality tea consumption.
They first made this announcement at the renowned Bitcoin discussion forum Bitcointalk.org saying, “We passionately believe that society can all make wiser consumption decisions if we are better connected with producers and can interact on a transparent platform. Our network of growers includes 20 farmers from 9 different countries. They are producing an array of loose-leaf tea coming from a single origin, preserving the unique terroir of every farm.”
Tealet have since became a brand among Bitcoin users, a thing which is likely to be reflective among the Litecoin users worldwide in coming days.
Meanwhile, Litecoin’s popularity seems to shift a little upward after this announcement. This tea is indeed good for the currency’s health.
To contact the reporter of this story: Jonathan Millet at firstname.lastname@example.org