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Pilot Project Makes Crypto Payment Available to South Korean Beach Visitors

By Mary T. | August 18, 2020
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The Haeundae Beach System in Busan is reportedly an initiative developed to make crypto payment methods available to beach visitors in the summer. 

Specifically, a pilot project conducted by Bitbeat-affiliate firm CIC Enterprise is reportedly looking to roll out crypto-enabled payment methods at the top two most visited beaches in South Korea. 

Particularly, CIC Enterprise has reportedly teamed up with card and cash payments services firm Innotech to design the token-based payment options, n the Haeundae Beach System on the beaches of Busan, frequently visited by beachgoers. 

The project will reportedly add crypto as a support means of payment for water sports-based activities, life jackets, and even parasol rentals, among others, using Bitcoin (BTC), Ethereum (ETH), along with MCI and WAY ERC20 tokens, via an application on smartphones. 

Bitbeat reportedly revealed that said it would only take approximately 10 seconds to finalize the transactions using the above type of payment, via utilizing QR codes for any wallet across the globe, reportedly made it stand out from projects of the same kind, which need users to download separate apps to get the process done. 

“We hope that the virtual currency used in the Haeundae-gu beach system will be more widely used in real life. We will try to provide a cryptocurrency payment environment.” the firm further stated. 

The Busan governments reportedly hoped that upon visiting the beaches, visitors will choose to rent services within the Haeundae beaches, rather than bringing their own. Another beach in Songjeong is also running a similar crypto pay pilot.

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