260,000 Japanese Stores Can Now Accept Bitcoin Payments (The Cryptoverse #296)
At the flick of a switch, 260,000 Japanese retail stores can now accept Bitcoin payments through their Air Regi point of sale system.
What are the pros and what are the cons?
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Sources:
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https://air-regi.com/
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The US should follow Japans lead and embrace cryptos instead of trying to push back on them like they have been. You don't see Japan demonizing cryptos and passing bullshit money laundering laws to try to scare people away from cryptos in general. The US is stuck in the stone age when it comes to cryptos, hopefully some day soon this will change...
Hey Chris! I see 2 things here.
I think this will make BTC price go to the moon as a combination of speculation and as part of the adoption in Japan.
I believe Japanese people will for sure start using it, the tax incentive will also help drive adoption.
With respect to the transaction fees, they need to be low and hope this will change soon. As for the time it takes to confirm, well, today Bitpay (I believe) takes the risk and both the merchant and the customer don't have to worry about it. Not sure if this will be the case in Japan. Having said that this will open the door to accepting other cryptocurrencies like Litecoin as you said.
Honestly I see this as great news!
It's a great thing seeing mass adoption in Japan. Thanks for sharing Chris! I'll be adding you to my "Why This Crypto" series very soon!
LTC would likely be a more efficient currency for these transactions, no?
Yes it would be, and soon more people will start to realize this, so make sure to capitalize on this opportunity while you still can.
Bitcoin = Gold Standard = Savings Account/Storage Of Wealth
Litecoin = Silver Standard = Checking Account/Pocket Change
All this are good news to us Crypto users. I always wondered how it will be implemented. Sitting here in Vienna, Austria, I cannot forget about to form and create a sales force to acquire not only shops, but also Hotels and other clusters of tourism to this new idea of accepting crypto currencies.
That's soom good news, Things are changing fast and cryptocurrencies are the future :)
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Could be big...
This is great. Thanks for the post. Unfortunately I do not live in Japan :/
Certainly this will help push the price upwardly....hopefully :)