Zimbabwean music production company Mutscon Music recently announced that its customers can now use cryptocurrencies such as Bitcoin and Ethereum to pay for services. According to the company, this decision was partly required due to continued movement restrictions related to the pandemic.
Music studio accepts encryption
Mutscon Music also chose to accept cryptocurrency because this payment method allows Zimbabweans, including those living in the diaspora, to directly pay for services provided to artists.In addition, this option is used to pay Bitcoin Either Ethereum A company executive said that this makes Mutscon’s service more affordable.
learn music FestivalFor his decision and what it means, Bitcoin.com News contacted Tonderai Muteta, the company’s music director. The following is Muteta’s answer to the Bitcoin.com news question.
Bitcoin.com news (BCN): What made you think of accepting encrypted payments?
Note Muteta (TM): The flexibility of transfer and the need to provide more opportunities for music students, musicians and others, because we are now doing more work online. We are already using other forms of electronic currency, so it seems logical to add cryptocurrency to the basket.
BCN: How long have you been in the music education industry?
TM value: Has been teaching since 2007 and Mutscon Resources has been operating since 2017.
BCN: When did you start accepting cryptocurrency and how did you respond?
TM value: We started in June 2021, but there was little response.
BCN: Are you a little worried about the volatility of cryptocurrencies?
TM value: We use [exchange] The interest rate at the time of the transfer.In the short term, we are good, and in the medium to long term, we have been exposed to the volatile currency of Zimbabwe, so we can deal with [price] Variety.
BCN: Do you have plans to add other cryptocurrencies in the future?
TM value: Yes, of course, if the customer requests, we will consider adding other cryptocurrencies.
BCN: Does this mean that you have stopped accepting statutory payments?
TM value: Legal payments are still accepted.
BCN: What are the advantages of paying in cryptocurrency?
TM value: This provides an opportunity to participate in the global market.
BCN: We know that Zimbabwe does not currently have cryptocurrency on the ramp. So how do you plan to liquidate or convert your crypto assets into cash?
TM value: Cryptocurrency has fair use and is now accepted by certain service providers, and some wallets allow the purchase of tokens that can be used to pay subscription fees on international platforms.
BCN: What is your view on Zimbabwe’s prospects of becoming another country that embraces cryptocurrency?
TM value: Zimbabweans are likely to find it easy to adopt cryptocurrencies because their operations are similar to other e-wallets in Zimbabwe.Unfortunately, the Ponzi scheme fuels paranoia and stigma [of cryptocurrenices]However, the cryptocurrency user community is gradually growing, and we believe this will provide opportunities for our customers to promote their education and professional development in music.
What is your opinion on Mutscon Music’s decision to accept cryptocurrency? You can share your views in the comments section below.
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