The year 2019 can be said to have been a good year for cryptocurrencies and especially the crypto Industry, whereby the mass adoption of cryptocurrencies has been in the headlines almost consistently. The subject has been broached at every turn since the onset of the year, and things are looking up for the crypto industry, as of present. Quite a number of moves and strategies have been made towards the mass adoption of crypto and blockchain technologies.
Recently a European Telecom giant A1 has been testing payments facilitated by cryptocurrencies at specific store locations in the continent. This move has been seen to be primarily geared towards the elimination of cash in the near future, and instead of replacing it with cryptocurrency. According to a report released by Futurezone, there are indications that customers will soon be able to handle and make all their payments by the use of a number of well-doing and leading cryptos. These include BTC, ETH, XRP, Dash, Stellar and LTC, to mention a few.
The giant Telecom provider is 183 years old and serves an approximated population of about 5.1 million mobile users across Austria and about 2.1 million more landlines in the same continent. It is beginning to take the stance that cash payments are an outmoded payment method in the present dispensation and time.
The head of business marketing at the Telecom Company Markus Schreiber has been quoted to say the following in part “cash is a discontinued model. With our pilot operation in the A1 shops, we will test demand and acceptance of digital currency in Asia. “He goes ahead to opine that “in particular, guests from Asia want to pay primarily with Alipay, WeChat Pay and even with a coin.”
With the increasing number of risks of price fluctuations, it is only prudent to think of a way to circumvent the situation. To significantly decrease the risk of crypto price fluctuations and boost mass adoption among merchants, enthusiasts, and even traders, the payments are set to be done in Euros.
Justin Szilard, a DashNews writer, has made comments that “multi-payment platforms like Salamantex can aid the inclusive adoption since it incorporates well into a merchant’s current POS system, and accepts multiple forms of digital payments including debit and credit cards.”
It is also worth noting that just recently, Verizon propelled its very own blockchain project. This adds to the mass adoption bandwagon that has been getting more and more borders with every passing day. The Telecom giant Verizon is said to be gearing up to join the leagues of other Telecom giants currently in the blockchain industry. The daily Hodl has made mention of job advertisements posted on the telecom company’s website that the communications giant is looking for blockchain developers.
The rapid pace at which the blockchain and crypto industries are growing to be accepted by corporations and giant companies only point to a fiat-less future. The tests by A1 are a sure sign to this forthcoming development that every crypto enthusiast is definitely looking forward to.