In a statement published by CoinDesk, Lamassu co-founder Zach Harvey said that the Rakía platform was intended to empower users to implement new services that are outside of Lamassu’s business model. The company’s machines are perfectly capable of powering a bitcoin-backed competitor to Western Union, but Lamassu has little interest in launching a product for that market.
We want to create a platform for thousands of small businesses to compete against these legacy financial institutions, and against each other. These are markets in dire need of fierce competition to bring down transfer and exchange fees.”
Lamassu’s open-source approach follows steps by Las Vegas-based bitcoin ATM maker Robocoin to move into the global remittance and bank-like services market. With low-cost open-source ATM competition like Project Skyhook nipping at the heels of both manufacturers, and the traditional ATM industry increasingly positive about bitcoin’s potential, Lamassu’s hybrid system of proprietary hardware and open-source software might prove to be a huge advantage.