Japan is leading in technology and when it comes to the digital currency then this country is no less than any other country in the world. They are accepting bitcoin rapidly all over the country but all the other currencies are ban till now there.
Yamada Denki is known as one of the major consumer electronics chain in Japan and this store has opened it’s doors for the cryptocurrency. It seems like Japan doesn’t need cash anymore and in few years it will be completely a digital country. The store-based in Shinjuku has allowed its customers to shop through bitcoin.
According to the retailer, this store is the busiest store because it has railway near it and the location of the store is it’s plus point. Most of the people who are from other countries must visit at this place. The store released a statement:
“In addition to diversifying means, we will implement initiatives to improve bitcoin recognition and usage promotion. With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas.”
This store has done a partnership with the bitflyer to make sure about the payments secure system and bitcoin is about to generate a market cap of 300,000 yen ($2,670) through shopping only. Right now this payment method is for the testing purpose and valid for one store only but in future, after the successful testing, the payment method will get implemented all over stores they have across the world.
bitFlyer has revealed that this payment partnership with the stores is going to generate 10 millions of Yen per month. Bic Camera which is a competitor store of Yamada Denki has announced to accept bitcoin as a payment method too. Bic Camera will accept bitcoin on all 40 stores nationwide.
Wemepu which is the largest e-commerce store in South Korea has also announced to accept cryptocurrency as a payment method and it includes 11 currencies like Ethereum, litecoin, and others. They have a partnership with the largest Korean cryptocurrency exchange.