Beach lovers in South Korea can now use Bitcoin to pay for services

A pilot project run by Bitbeat affiliate CIC Enterprise aims to provide crypto-currency payment solutions for use by tourists on two of the country’s busiest beaches.

According to ZDNet Korea, the company partnered with card and cash payment provider Bitcoin System for a token payment solution at Haeundae Beach in Busan, South Korea, which is popular with tourists.

High prices, bull runs and thieves: the bad news of the week

The program will allow people to pay for water sports activities, life jackets and even umbrella rentals, among others, with Bitcoin (BTC), Ethereum (ETH), along with ERC20, MCI and WAY tokens, through a smartphone application.

Riot Blockchain shares end the week up 29% to a new high of 2020
A faster payment solution for tourists
Bitbeat said that such payments could be processed in less than 10 seconds by relying on the use of QR codes for any wallet in the world, which differentiates it from similar projects that often require its clients to download separate applications to complete the entire process.

The company added:

„We hope that the virtual currency used in Haeundae-gu’s beach system will be more widely used in real life. We will try to provide a payment environment with crypto-currency.

Busan authorities hope that on summer days people will prefer to rent services within Haeundae beaches, rather than bringing their own things to enjoy their time on the beaches. Another beach in Songjeong is also conducting a similar pay-as-you-go pilot program with cryptomonettes.

Crypto coin scammers pose as the Polish Financial Supervisory Authority
In addition, in Busan, a public-private consortium in South Korea announced on June 20 its intention to build a medical tourism platform powered by blockchain technology. No launch date has been set and, according to Gyeongnam Ilbo, the initiative will be led by Busan Bank.