A Pilot Project in South Korea Seeks To Offer Crypto Payment...
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A Pilot Project in South Korea Seeks To Offer Crypto Payments Solutions to Beachgoers

Mainstream adoption of bitcoin and crypto in general continues to increase. Many people are increasingly using their crypto holdings to pay for goods and services and the latest among them is South Korean beachgoers. 

A pilot project implemented by Bitbit Group seeks to offer crypto payments solutions to beachgoers in the summertime. The company aims to provide its crypto payments solutions at two of the busiest beaches in South Korea and the Haeundae Beach System in Busan happens to be part of its piloting.

According to a local news report, the blockchain-based crypto payment service will be supervised by CIC Enterprise, a subsidiary of Bitbit Group. The company has partnered with card and cash payments provider, Innotech, for its token-powered payments solution in the Haeundae Beach System on the beaches of Busan in South Korea.

This pilot project will allow people to pay for water sports-related activities, life jackets, parasol rentals, and many others, with crypto through a Smartphone-based application. The tourists can make payments in BTC and ETH, along with ERC20-based tokens MCI and WAY.

According to Bitbit, such payments could be processed in few seconds via the use of QR codes for any wallet in the world. The company claims this will give them competitive advantage over similar projects that often require customers to download separate apps to complete all the payment processes.

Busan authorities expect that during summertime, tourists will prefer to rent services within the Haeundae beaches, instead of bringing their own items from home to enjoy the time spent on the beaches. The Bitbit Group said it is their hope that the virtual currency used in the Haeundae Beach System will be used more extensively in real life. The company is aiming to provide a virtual currency payment environment.

coinmag

Born, raised and schooled in Sweden with a degree in law, Glenn is a long time crypto enthusiast. He quickly acknowledged the potential of the blockchain technology, and the benefits of decentralization. Glenn believes in a future where blockchain technology and decentralization will govern and enable people to have a transparent security and financial system.