Cryptocurrency is permeating every space, and it is something that crypto enthusiasts love to see. It is not likely that crypto critics envisaged a day like this when movie lovers would be able to see their favorite movies at the cinema and pay with crypto in place of physical cash. Many of the critics predicted that Bitcoin would be doomed within the first few years of its introduction. Interestingly, it is over a decade since Bitcoin was introduced to us, and the coin has continued to grow in leaps and bounds.
This Movie Theatre Accepts Bitcoin
In Thailand, one of its movie theater operators, Major Cineplex Group has begun a project that allows its customers to purchase movie tickets with Bitcoin. This is a move by the company to adopt emerging technologies, especially in this digital age. In order to facilitate this payment functionality, Major Cineplex Group went into partnerships with Rapidz and Zipmex. This new payment feature was launched at one of Bangkok’s movie theatres, where Bitcoin users paid with Bitcoins. There are indications that Major Cineplex has plans to introduce the crypto payment feature to more than 30 movie theaters.
It may interest you to know that Thailand has more than a million holders of Bitcoin, which saids a lot about the countries adoption of cryptocurrency. According to a Major Cineplex spokesperson, this new feature was created to give crypto investors a new venture to consider. The entertainment industry, which has a huge following, has begun to use crypto. This is just another step closer to mass adoption.
Back in February, Thailand’s SEC came up with some requirements that were intended to regulate crypto investments. One of the requirements was that potential investors needed an annual income of about $33,000 before investing. However, they rescinded the requirements because it affected investors and the country’s crypto economy. Thailand’s crypto market has continued to experience unprecedented growth as the citizens’ interest in crypto continues to grow. There are several other use cases of crypto, and the country has further encouraged the use of blockchain technology for different purposes. Thailand is one of the few crypto-friendly countries in the world, and they are adopting the tech pretty fast.
The Future Of Digital Payments
One thing that crypto seeks to do is function as the perfect alternative for fiat currency when making payments. However, it can only be possible if crypto makes a gradual move at becoming a globally accepted mainstream payment method. It is no news that crypto’s growth and development is rapidly evolving, and mainstream acceptance does not look like a difficult task anymore. More merchants in different parts of the world have begun to accept cryptocurrency for transactions. Furthermore, we have seen Fintech begin to adopt the use of blockchain and crypto-based systems for different financial solutions. It is no longer news that crypto is here to stay, and the fourth industrial revolution timed its arrival perfectly.
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