Ethereum News: EXPLOSION Soon! I’ve NEVER Been SO BULLISH on ETH!
Beach Holidays Available for Payment in Ethereum
Popular South Korean Beach Infrastructure Now Accepts Ethereum Payments.
To pay for goods and services, you can use any wallet that supports the ERC-20 standard.
South Korea continues to actively explore the benefits of blockchain technology.
The infrastructure of the worldwide popular South Korean beach in Busan began to accept payments for various services in the Ethereum cryptocurrency.
To the beach with cryptocurrency
In the traditional holiday season, the crypto industry has taken another step towards the massive adoption and use of digital currencies in daily life. Now tourists who relax on the famous Haeundae Beach, located in the South Korean city of Busan, can pay for the services of the local infrastructure with Ethereum cryptocurrency (ETH).
Vacationers can pay with ETH at all beach shops and service points, according to local newspaper ZDNet Korea. This innovation was made possible thanks to the blockchain developer BITbeat. After successful testing, the company launched a crypto payment system on the beach last week. The project aims to improve the convenience, transparency and reliability of payments.
Haeundae Beach is famous for its beauty and therefore is quite popular not only among locals, but also among foreign tourists. Now one of them can appreciate the transition to payment with a universal and borderless cryptocurrency..
Can cryptocurrencies replace national currencies? Join the discussion in our Telegram channel – and you will find out everything!
Virtual currencies – real services
Representatives of the BITbeat Group expressed their hope that the use of cryptocurrency will not be limited to the Haeundae beach system and will find wider application in everyday life. The company has promised that it will try to provide a broader environment for making digital payments.
In the meantime, for Ethereum and the Musiconomi token, which runs on the Ethereum blockchain, vacationers can buy beach umbrellas, life jackets, surfboards, as well as pay for various water activities. Payment is possible using a QR code from any wallet that supports ERC20 tokens.
In addition, payment with bitcoins (BTC) is also possible. According to the developers, the payment process will take only 5-10 seconds.
For South Korea, this innovation was another step in the process of mass adoption of blockchain technologies and cryptocurrencies.. Previously edited by BeInCrypto already said that every South Korean heavyweight conglomerate has already officially invested in the blockchain. So, at the end of May, Samsung announced a partnership with the Gemini cryptocurrency exchange.
Also this spring, South Korea officially legalized cryptocurrency trading on its territory..
According to experts, the Asian market as a whole is increasingly becoming a leader in the regulation of the cryptocurrency industry and the development of blockchain technologies..