Colombian beetles exported to Japan with help from cryptocurrency
Information about Colombian beetles exported to Japan with help from cryptocurrency
Kevin David Scam or Legit
By Nelson Bocanegra
TUNJA, Colombia (Reuters) – A Colombian exporter of long-horned beetles, a popular pet for Japanese children, has created its own cryptocurrency to avoid high commissions on international sales.
“It’s an alternative to be able to export the beetles to Japan or any other part of the world and be able to use it as a method of payment,” said Carmelo Campos, chief programmer of Tierra Viva, based in the central Andean city of Tunja.
The company exports Hercules, Neptunus and elephant beetle species which can fetch up to $300 a pair in Tokyo. The sales commission can reach as high as 10% of export value, motivating Tierra Viva to create the currency.
The Kmushicoin, named after the long-horned beetle Kabutomushi in Japanese, is accepted as …