TECH TALK
online digital wallet bitcoins into local currency!
Due to the costs of moving
money across borders, remittances and international payroll services, cryptocurrencies may solve some of these problems and reduce transaction costs. Retailers are slowly coming onboard, as one abbreviated list of notable firms which do so was compiled in a recent article by Bezinga (“The Major Services And Retailers That Accept Bitcoin”, Aug 8 2017) demonstrates: 1.
Overstock.com - The first large online retailer to accept bitcoins has also been one of its most staunch supporters.
2. PayPal (although a search on PayPal indicates that this policy may have been changed)
3. eBay (transacts payments via third-parties, so, we were unable to quantify how eBay supports this themselves)
4. Microsoft 5. Shopify 6. Etsy 7. Dish Network 8. Gap, GameStop and JC Penney – have to use
eGifter.com
9. TigerDirect 10. Intuit There are now smartphone apps which are dedicated to helping you transact in bitcoin, with one of the
most widely accepted being from
CoinBase.com. For anyone who is interested in
learning more about this vast topic, I would suggest performing searches using ‘bitcoin overview’, or simply going to one of the more in-depth websites such as ‘
www.bitcoin.com’.
BITCOIN’ USE IN AVIATION This is a short list, but growing. One notable recent company is Star Jets International, which now accepts bitcoin payments for private jet flights. This firm has one of the world’s largest network fleets of private jets, with over 5,000 aircraft available for charter worldwide. They are expecting that by providing customers with an option of using bitcoin that they will appeal to a new customer base, and leapfrog their competition. The first private jet booking
service to accept payment in bitcoin was
PrivateFly.com back in 2014. It had a paying customer use this option shortly afterwards for a same- day-booking flight. The firm had expected that ~5% of its revenues would come via bitcoin at some point, but no updates have been given since 2014 on this. A low-cost Japanese carrier, Peach Aviation, is expected to begin to
accept bitcoin as payment in late 2017. The country of Japan in general is very open to Bitcoin, conferring legal status to it, and is among a handful of cryptocurrency-friendly nations. Peach Aviation expects that by accepting bitcoin that new customers from outside of Japan will increase, since many Asian businesses and individuals are active in this movement in regards to remittances and trading. Asia has been one of the hotspots of cryptocurrencies, and blockchain applications. Here is a list of known entities
in aviation which have announced accepting cryptocurrencies: Private Jet Operators
• JetVizor (US) • Monaco Jets (US) • PrivateFly (UK) • SimpleCharters (US) • Star Jets International (US) • TapJets (US)
Commercial Airlines • Aeroflot (Russia - planning the payment of airline tickets with digital currencies in the near future)
• AirBaltic (Latvia – was the first airline to announce of Bitcoin)
• Air Lituanica (Lithuania) • LOT Polish Airlines • Lufthansa Group (Germany/ EU - has entered into a deal
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DOMmagazine.com | dec 2017 | jan 2018
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