South Korean Beachgoers Can Now Use Bitcoin to Pay for Services

In a recent development in South Korea, the beachgoers in two of the most popular beaches in the country can now avail crypto payment solutions for various services. The Haeundae Beach System, located in Busan, is one of the parties in the pilot project that is aimed at providing beachgoers with unique crypto payment solutions. It is the part of the test pilot project that is being operated by Bitbeat, a CIC enterprise. As per the news reports by ZDNet Korea, it has collaborated with the cash and card payments processing company named Innotech to offer token-based payment solutions in Busan’s beaches, which are highly popular among the domestic and international tourists in South Korea. 

The tourists can avail of the payment solutions in the Haeundae Beach System that pay for various water sports activities, life jackets, parasol rentals, and so on. The payment can be done in Bitcoin or Ethereum as well as in WAY ERC20 and MCI tokens using a unique mobile app platform. As per the statement released by Bitbeat, such a payment solution would allow customers to pay in less than ten seconds as the entire transaction takes place with the help of a unique QR code. It makes the entire transaction not only faster but more secure. It also eliminates the need for every user first to download a specific payment application, as is the case with most of the other similar payment processing apps in the market. 

The company also said that it is hopeful about the payment processing solution that can easily be used along with the Haeundae-gu beach system. It would be used in the everyday life of the consumers widely in the time to come. The company is hoping to offer an integrated and safe cryptocurrency payment solution and environment for its users. A beach in Songjeong is also running a crypto payment solution pilot project. The reason behind the development of these crypto-based payment apps is because the service providers in the Haeundae beaches believe that the tourists would rent the services at the beaches rather than bring their own items to enjoy at the beaches. 

In other development, a public-private joint consortium recently announced that it is looking to build a dedicated medical tourism platform powered by blockchain mechanism in South Korea. The entire initiative would be initiated by Busan Bank, and its release date is yet to be announced.