KANALCOIN NEWS – Two beaches in South Korea, reportedly will soon implement payments using cryptocurrency-based digital currency. This implementation is a pilot project to start publishing cryptocurrency to the people of South Korea.
This cryptocurrency payment pilot project will be run by an affiliated company, Bitbeat CIC Enterprise. Bitbeat CIC Enterprise wants to provide a payment solution using cryptocurrency.
Bitbeat CIC Enterprise targets the two most crowded beaches and frequently visited by tourists, both domestic and foreign, in South Korea. One of the beaches targeted is Haeundae Beach, Busan.
Bitbeat CIC Enterprise will later work with a card and cash payment provider company, Innotech. The two will create a token-powered payment system called The Haeundae Beach System in Haeundae Beach, Busan.
This payment system will later serve tourists who want to use the facilities or perform various activities on the beach. Several activities and facilities that can be paid for using tokens include water sports, life jackets, umbrella rentals, and others.
The Haeundae Beach System will accept payments using Bitcoin (BTC) and Ethereum (ETH). Apart from Bitcoin and Ethereum, there are also MCI and WAY ERC20 tokens that can be used to pay.
Later, tourists can start using cryptocurrency-based payments using a smartphone-based application.
However, tourists will not need to download a separate application to be able to use this payment system. The Haeundae Beach System will use a QR code that can be used by any crypto wallet in the world.
So, it is not only easy to process, but tourists will also be given high time efficiency. The reason is, payments using this system will only take less than 10 seconds.
Bitbeat CIC Enterprise also added that they hope that The Haeundae Beach System can later be applied to everyday life. In fact, they are committed to starting to apply it in everyday lifeBitbeat CIC Enterprise also added that they hope that The Haeundae Beach System can later be applied to everyday life. In fact, they are committed to starting to apply it in everyday life.
“We hope that the virtual currency used in The Haeundae Beach System will be used more and more in real life. We will try to provide a cryptocurrency payment environment,” said Bitbeat CIC Enterprise representative as quoted by Cointelegraph.
Busan authorities hope that in the summer more tourists will use the services at Haeundae Beach. Thus, local government revenues will increase.
Apart from Haeundae Beach, there is another beach in Songjeong which will also be used as a pilot location for using cryptocurrency payments to rent services and facilities at beach resorts.
On the other hand, a public-private consortium in South Korea also intends to build blockchain-powered medical tourism in Busan. This was announced on June 20, 2020. However, the tourism release date has not yet been determined.
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