India tries e-commerce sales in livestock industry, is Bitcoin payment the next step?

As one of the most prosperous economies in the world, e-commerce seems to be gradually penetrating into the daily lives of consumers. At the same time, the recognition of Bitcoin in the country is also on the rise. Although Bitcoin in India may not yet have a significant impact on the world's e-commerce, using virtual currency when dealing with the sale of live goats will bring many benefits.

An attempt at live goat sales in India

The attempt comes at an opportune time, as Muslim communities around the world will celebrate Eid al-Adha today, which involves slaughtering livestock and sharing them with friends and family. As technology becomes synonymous with daily shopping and communications, even these sacred rituals are subject to change.

Instead of having to queue up to buy live goats, residents of India now have the opportunity to buy livestock online. No hassle, no stench, and no haggling to get a better deal. The marketplace that makes this possible is called OLX , and they currently have hundreds of goats for sale in India.

As you might expect, the animals are priced anywhere from a few dollars to $10,000. To a Western reader, paying such a high premium may seem outrageous, but the annual sacred ritual is reason enough to raise the value of animal husbandry infinitely. Whether someone would pay $10,000 for a goat is a very different matter.

If someone wants to sell goats in India, all they need is a device with an internet connection. Even a smartphone or a cheap tablet will do the trick, as all they need is a picture of the goat and a price. But there is no way to attract potential buyers within a certain radius, which can be a bit inconvenient, and the issue of driving hundreds of miles to offer goats is not discussed for the time being.

But the OLX marketplace has certain drawbacks. Buyers can only see pictures of goats, which may or may not be recent. Also, there is no way to check the animal's physical condition or judge its features. The idea of ​​selling livestock online through the OLX marketplace during such a holy festival sounds good in theory, but it seems not so feasible in reality.

Would a decentralized solution with Bitcoin payments help?

Although such an idea is not so feasible at the moment, there is always the chance to give the idea another try next year. Planning ahead for this idea can make it quite fruitful, assuming India is ready to embrace the right technology to do it. Using blockchain technology to provide additional information about livestock would be a big step in the right direction.

Moreover, in order to make all payments as smooth as possible, Bitcoin would be a great tool for all parties involved. Considering that not every Indian citizen has access to a computer, but they have a smartphone, it would be much more convenient to use Bitcoin in transactions compared to fiat currencies. The money can be transferred in seconds and stored in a secure way on the seller’s mobile device or computer.