Robocoin, a popular bitcoin ATM provider, is announcing that they’re upgrading all of their ATMs to turn them into full service “banks” complete with account control, payment systems, and a method for handling multiple wallets.
The ATMs will still support deposits and withdrawals into private Bitcoin wallets as well as manage transfers. According to a release, the ATMs will include three important features:
What does this really mean in practice? Well, first the language around bitcoin access will change from wallets and transfers to accounts and deposits/withdrawals, thereby reducing some of the fright factor of standard BTC systems. Because you will be able to control multiple wallets (now called accounts) you can create one for a point of sale system, one for savings, one for checking, etc. It’s a perception thing that will improve adoption.
Given that the nearest Robocoin kiosk to me is currently in Texas I doubt I’ll be hopping up to slap my palm on an ATM. However, it’s an interesting move that could legitimize the platform for many bank users.