The crypto industry has thrived from merely being associated with the dark web to a trillion-dollar industry. Currently, the overall market cap of the cryptocurrency industry was noted at $1.67 trillion. While the crypto-verse is making its way onto $2 trillion, platforms across the globe have started to express interest in the market.
Crypto, particularly Bitcoin has time and again been condemned for its volatile nature. This had further urged the community to label BTC as a “store-of-value” asset as opposed to a means of payment. However, a Thai cinema chain seems to be diminishing these conventions by incorporating the king coin into their payment system.
Crypto Catches The Eye Of Thailand’s Largest Cinema Chain
An array of countries have become more accepting of Bitcoin, just when its price started skyrocketing. Thailand’s prominent theatre chain, Major Cineplex Group decided to take things up a notch by inducing Bitcoin as their latest method of payment.
The platform revealed that a pilot project would act as a medium for the users to pay to watch movies in Bitcoin. While Major Cineplex Ratchayothin is the first platform to do so, about 39 other theaters across the country are said to entail this service by the end of the year.
Those who intend to use this mode of payment would be required to download the Rapidz app. A local news portal further reported,
“Movies at E-Ticket vending machines by clicking on the movie and seat position you want, then choose to use E-Wallet and select Rapidz, after choosing to use with Rapidz, there will be a QR Code on the screen for customers to scan for use. Digital currency exchange for movie tickets, after pressing confirm, the kiosk will print out an E-Ticket and customers can use it to watch movies immediately.”
This could be a major plunge for Bitcoin in terms of adoption in the country. While the country’s financial watchdogs based the trading of crypto on the income of citizens, the agency amassed extreme backlash for the same.