March 29, 2024

The southern beaches of the south have been used to raise the bar.

According to the news site ZDNet Korea, now visitors to the South Korean beach of Haeundae-gu in Busan can pay with Ethereum for everythingshops on the overhead.

Last week, the company BITbeat,blockchain development, announced that, after successful testing, it launched a cryptocurrency payment system on Haeundae-gu beach. The project is aimed at increasing the convenience, transparency and reliability of crypto payments.

We hope that the virtual currency usedin the system of the Haeundae-gu beach, will be more widely used in real life. We are trying to provide the best medium for payments in virtual currency, - stated in the BITbeat Group.

Beach visitors can buy umbrellas for ETH,safety vests, surfboards, and also pay for water sports. Ethereum and the Musiconomi project, based on the Ethereum blockchain, allow payments to be made to all wallets that support ERC20 tokens.

Stores have QR codes that displayAddresses of wallets to which payments are sent. According to BITbeat, the time from payment to receipt issuance will be from 5 to 10 seconds, depending on factors such as QR code recognition and Internet speed. “The process has been simplified as much as possible” to avoid long waits.

It is known that China's South Koreatends to use blockchain technology and cryptocurrencies in an economy affected by the coronavirus pandemic. The Seul government is discussing the creation of a $ 400 million blockchain fund for the development of appropriate payments, including non-contact payments.

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