Busy South Korean Beach Says ‘Yes’ to Crypto

Tyler Hromadka

HaeundaeBeach Source: Adobe/panyaphotograph.

Holidaymakers at Haeundae, South Korea’s busiest and most popular beach, will be able to spend for services such as sun umbrella and inflatable tube leasings in bitcoin (BTC), ethereum (ETH) and other tokens next month.

Haeundae Beach, in South Korea’s second city Busan, is a 1.5 km-long, 30-50 m broad stretch of sand that draws in numerous countless visitors a day throughout the peak summer season of July and August.

And per media outlet Fintech Post, Busan city authorities have actually partnered with CIC Business, an arm of blockchain company Bitbeat, along with Innotech, a company that currently offers payment facilities to the city’s beaches.

Under the regards to the offer, beach authorities of both Haeundae and neighboring competing hotspot Songjeong Beach– a popular neighboring location for web surfers– will enable sunbathers, swimmers and watersport fans to pay in fiat utilizing debit or credit cards, or utilize BTC, ETH or the musiconomi (MCI) and METHOD tokens.

As part of coronavirus-fighting contact-free drives, crypto lovers will be able to spend for their beach vacations in BTC, ETH and the rest online prior to they even leave the house– getting their parasols, rowboats and the like when they get here.

Busan stated that the project will run from August 1 up until completion of the summertime season, however might be followed up next year with a broader blockchain-powered payment system at beaches all over the city.
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