First UK paper recycling deal made using Bitcoin

Written by: Editorial staff | Published:
Prismm MD Mike Jackson. Photo by Wilde Fry.

Kent-based consultancy Prismm Environmental and Parry & Evans have become the first UK companies to trade recyclable paper using Bitcoin in the UK.

Bitcoin is a digital currency system which works without a central bank or single administration.

The network is peer-to-peer and transactions take places through cryptography, meaning it is often seen as safe and secure.

Mike Jackson, managing director of Prismm Environmental, said: “Using Bitcoin worked for both us and Parry & Evans as there was no transaction fee to pay, and they received instant and secure payment. It also shows the intention of both companies to collaborate on technology in future."

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