Julin GYS автор ресурса
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21 февраля 2018

Mall in South Korea - the first, but not the last


Time does not stand still and people and modern technologies are stepping along. The epoch of capitalism has come, and the success and availability of money plays an important role. Everyone looks for a place in the sun and with a lack of we feel disappointment. That is why the bravest, the most rational and developed people have long been investing in cryptocurrency. Fiat funds recede into the background when we want convenience and quick guaranteed profits.

Millions of people invest in cryptocurrencies, dozens of countries have already legalized the trade in cryptocurrencies, making it taxable or simply legitimate, hundreds of countries remained neutral to this issue, which means that this industry is flourishing. This is the reason why the brightest minds of each country begin to speculate how to make digital money more accessible and easier to use at the mundane level, how to make it one of the ways of paying in usual shopping centers at the legislative level. At the time of writing, we found the answer to this question in South Korea!

Innovation

WeMakePrice, which is a large shopping center in South Korea, announced that it is ready to accept payments in 12 different digital currencies, including Dash. This decision is caused by several reasons. One of those is the partnership with Bithumb. The latter is one of the most popular virtual trading platforms in South Korea. Also, this "exchanger" is one of the largest in the world in terms of trading volume.

To turn this into reality, WeMakePrice plans to develop a payment system that should integrate virtual currency into Wimepey. Wimepey is a settlement system that has so far been used in a shopping center.

Also, the audience was informed that the service is available as soon as possible, or rather - once the government has agreed on the provision of digital currencies.

Groundbreaker - Goto Mall


And although this shopping center is one of the largest in the South Korea, which accepted cryptocurrencies as payments, it can not be said that it is the first one, because similar measures has already been done by other shopping centers of this country with smaller volume of trade. For example, in autumn of 2017 a large underground shopping center Goto Mall announced that it had started cooperating with Crypto Exchange HTS Coin in order to develop tools that would allow to introduce digital currencies into circulation. Thus, a payment system and mobile applications were created. It helped to succeed in this business.

The most important payment parameters

To use the cryptocurrency as means of payment, shopping centers and other trading platforms must clearly understand the necessary level to achieve and priority parameters of transactions.


In order to get an answer to the question of which particular parameters of transactions are the most important, we addressed the expert Egor Petukhovsky, the co-founder of the payment system for crypto- and fiat- payments VISO. He stressed that to make payments you need to take into account many parameters of transactions and among them identified the main ones:

"If we do not put technical aspects to the side, but only practical ones, there are only two significant points - the speed of transactions and its reliability (irreversibility). As follows from the many years of experience of the International Payment System (IPS), in order for payment technologies to be applicable in hypermarkets and no queues occur, the time of the transaction should not exceed 6 seconds. By the way, non-contact payment instruments are aimed to this, for example smartphone technologies with NFC for payment. Currently, only a few of the TOP-30 cryptocurrencies are able to provide such a speed".

The selected parameters are easy to explain, because in modern life reliability and speed are important not only in the field of cryptocurrency. However, how many of the digital currencies can correspond to this level? After all, not all existing cryptocurrencies can provide fast transactions. Even Bitcoin transfers require more time!

Conclusion​


Analyzing the latest news and expert opinion, our journalists came to a single conclusion. Of course, it is great deal when shopping centers and other physical outlets around the world tend to improve payments using digital currencies. However, without cooperation with certain exchangers, the availability of system support and their own payment systems and applications, it can not be done. Moreover, only few cryptocurrencies can boast of transaction speed of several seconds or at least reduce the time of transaction to one minute. And after all it is very important that purchases can really be made "here and now", not gathering a crowd of people waiting for their service. That is why, after the government discussion of the details of provision on the use of digital currencies, adoption of Dash cryptocurrency for payments to the South Korea, is a successful step for another shopping center in that country. Indeed, one of the many advantages of Dash is the speed of transactions, which do not take more than a minute, and ideally, do not exceed 40 seconds. Do not believe me? Read more about Dash and join the best!

Find out more about Dash - here

283 Автор Julin
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