Cryptocurrencies such as Bitcoin and Ethereum have difficulties in putting themselves out, especially in traditional street-side businesses. However, one crypto and blockchain company plans to change this stigma. This seems to be the case for Brian Armstrong, co-founder and CEO of Coinbase, in his recent tweet which shows his company’s attempt at giving physical and viable crypto goods a trial. Armstrong tweeted saying “Popup donut shop accepting crypto at @coinbase today. Doing more user testing important to improve usability. 💪” together with a video.
The video which lasts for only 15 seconds, shows who is believed to be a Coinbase employee, according to Ethereum World News, using his/her phone to scan a QR code on an iPad turned Point of Sale (POS), and used Bitcoin Cash or BCH to buy donut. It seemed like it only took 3 seconds for the payment to be received by the vendor — the swift transaction is probably supported by the zero-confirmation transaction protocol and system of BCH.
The integration, presumably used the trial versions of Coinbase’s in-house wallet along with a merchant-side offering, accepted BTC, BCH, ETH, and Litecoin (LTC) — the four cornerstones throughout Coinbase’s wide range of consumer, merchant, and institutional products.
Chepicap, a live crypto news platform, added in its article the mixed reactions of Twitter users regarding Armstrong’s tweet. One user named Dimitrios Tragas said “Wow.. that was quick!” while other users who believed that the video was edit replied “Yeah, because there’s an edit.” and “Obvious edit is obvious. You made it look like the transaction was received faster…” to show that the transaction was completed in seconds, rather than minutes, supposedly.
Additionally, a leading crypto enthusiast named Armin Van Bitcoin also replied, “it’s 2019… we’ve had database transaction since the 70s.”. Ethereum World News explained his point and added that the Armin indicated that a “simple database transaction” is not how businesses should make people use crypto, adding that the attempts of Coinbase are “futile” and that the company could someday encounter qualms, similar to Bitmain as of the moment.
Furthermore, there were some that appreciated the efforts of Coinbase. Fred Wilson, a crypto-friendly venture capitalist and co-founder of Square Union, said that he “loved that.” Seeing as Wilson expects for upstarts to launch notable, paradigm-shifting products in 2019, it is obvious why he is encouraging of such pro-adoption efforts.
Some are even convinced by the video and supported it by saying “As much of an advocate that I am for , this wasn’t an edit. I watched a few times over and the zoom made it look like an edit. But audio and position remained fluid. That being said, go catch.” and as per David Shares, founder of BitcoinX, “Bitcoin Cash (BCH) works flawlessly. Nicely done Brian!”
Will this Bitcoin adoption shared by Armstrong have positive reactions by the rest of the people in the world? What do you think? Will this be applied to other brick & mortar retail stores? Share with us your thoughts on the comment section below!