Beach goers should be able to pay with cryptocurrencies on Haeundae Beach in South Korea in the future. A new pilot project by Bitbeat-owned company CIC Enterprise aims to enable crypto payments on one of the best-visited beaches in South Korea.
According to a report by ZDNet Korea, the company has teamed up with the payment service provider Innotech to jointly set up a crypto payment system on Haeundae Beach. The beach in the South Korean city of Busan is particularly popular with tourists. Beach visitors can use the system to pay for various water sports, life jackets, parasols, loungers and other services. The crypto currencies Bitcoin (BTC) and Ethereum (ETH) as well as the ERC20 tokens MCI and WAY are available as means of payment.
Straightforward and quick
Payments are made by smartphone and, according to Bitbeat, should be processed in less than 10 seconds. A QR code is used for this, which makes the system compatible with any wallet. Similar projects often require customers to install specific wallets in order to make payments. Bitbeat’s ambitions are even bigger, they say:
“We hope that the cryptocurrencies that are used in Haeundae-Beach’s payment system will also be used in everyday life. We want to create a large-scale crypto payment system. “