Global blockchain company BITbeat Group (Founder Philip Choi) announced that it has conducted a pilot operation of virtual currency payments starting from September 1st at Haeundaegu Beach System.

This blockchain-based virtual currency payment service managed by BITbeat Group affiliate, CIC Enterprise, is expected to increase the convenience, transparency, and reliability of electronic payment by partnering with Innotek, an electronic payment system consignment company, at Haeundae-Songjeong Beach.

MCI tokens and WAY tokens are adopted as payment currencies for virtual currency payment services. The payment can be processed through all wallets that support Ethereum as ERC20 tokens and can be easily transferred to a designated wallet through the QR code provided at the ticket office.

In order to increase the convenience of virtual currency payment for users visiting Haeundae Beach, the payment process has been simplified to minimize the time it takes for approval. Users with Ethereum wallet with QR function activated or any wallets that supports MCI tokens or WAY tokens can make immediate payment by scanning the QR code at the ticket office. Depending on the QR code recognition and network connection speed, it takes about 5-10 seconds from payment to issuance.

Previous virtual currency payment services were available only to customers who had wallets through affiliates. However, during this pilot project, users with any cryptocurrency wallets and exchange apps around the world that support Ethereum, will be able to make payment at offline stores without installing a separate wallet.

Philippe Choi, chairman at BITbeat group said, “I hope that the virtual currency usage in the Haeundae-gu Beach system will spread use case more widely in real life.” He added, “Next year, we will introduce various payment methods to provide a better virtual currency payment environment.”

번역: 황영훈 기자