The use of crypto-currency as a method of payment varies greatly from country to country, and also from crypto-currency to crypto-currency. So far, their most popular use is as an investment asset or store of value. But, in South Korea, things are moving in a different direction, since they can now use Bitcoin to pay for services on a beach in Busan.
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South Korea will accept Bitcoin payments on some Busan beaches
A pilot project was recently unveiled in the Haeundae Beach system in Busan. It will be run by CIC Enterprise to promote and offer payment solutions with cryptomoney on two famous beaches, especially in summer.
This company is affiliated with Bitbeat to carry out this project. In addition, the alliance will work with the Innotech card. In this way, you can now enjoy the common services of a beach by paying with cryptomoney.
Whether it is life jackets, renting umbrellas, water sports, a wide variety of services that you can now pay for with crypto currencies such as BTC, ETH and WAY ERC20. No wonder this has happened in South Korea, considering that this is one of the countries that has most integrated technology into its daily activities. For the same reason, these payments with crypto-currencies can be made through smart phones and QR codes.
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What advantages does this new system offer?
At first sight, if we think about the tourists we will see that this makes things much easier for them. According to Bitbeat, these payments could be processed in less than 10 seconds by relying on the use of QR codes for any wallet in the world.
However, this doesn’t stop at Haeundae. Another beach in Songjeong is also running a similar pilot program to promote payment for services with crypto-currency. As if that were not enough, a public-private consortium in Busan also announced in June its intention to build a medical tourism platform driven by Blockchain. So far, not many details are known about this, but it is known that the initiative will be led by Busan Bank.
With all this, South Korea serves as an example for many countries in the Asian region and the world in general. Thus, this country shows that it is committed to Ethereum Code and innovation and that it will gradually continue to exercise leadership in each sector it decides to undertake. If you don’t believe us, just look at what they do in the entertainment industry.