The two companies traded blame for the collapse. BitXatm accused CrytpVision of refusing to “to act in good faith and respect legal obligations”, while they were on the receiving end of allegations of a “demonstrated unwillingness to deal ethically with CryptVision.” According to BitXatm’s website:
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“BitXatm honored its end of the deal and prepared for the expected delivery that never materialized. After spending a full month waiting for CryptVision to take any action, we were shocked to discover our partners failed to handle incoming inquiries by interested US-based clients, and never conducted any organized effort to secure enough new customers as stipulated by the agreement.”
Both companies have decided to move on and are currently not pursuing legal action. CryptVision plans on rebranding and may build its own proprietary ATMs. BitXATM was reportedly contacted by companies in the US interested in taking over what was “supposed to be Cryptvision’s part in its partnership.”
If 1000 ATMs were indeed brought to the country, it may stimulate the bitcoin ecosystem. Currently, most of the population remains several hours driving distance away from the nearest machine, making the purchase of bitcoins more difficult.