Singapore’s first cashless Ducatus cafe lets you buy coffee with Bitcoin

Ducatus Cafe, which is owned by a cryptocurrency mining company Ducatus Global, is the first of its kind in the country’s CBD. It lets you pay coffee not just by credit card and Nets, but also with its own Ducatus coin and Bitcoins.

The cafe, which launched in December last year, soon will bebe accepting other cryptocurrencies.

According to its CEO Ronny Tome,

“Right now, cryptocurrencies are mostly using for speculation on markets… We want to make it part of our daily life”.

But it is also international, with the first branch opening on December 12 in Seminyak, Bali in Indonesia. Tome said he would open more outlets around the country to state that cryptocurrencies are here to stay.

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“We just want to make sure people understand that cryptocurrencies are here to stay,” Ducatus CEO Ronny Tome told Reuters, adding he had plans to open more cafes in other countries and team up with hotels and travel agencies.

The central bank has said it is concern about potential losses for citizen money and money laundering. But is doing extensive research on the distributed ledger technology on which Bitcoin relies. Tome said he welcomes efforts to educate people about cryptocurrencies including warnings about the speculative behavior of cryptocurrencies. Although he does not think that would affect his business.

Ducatus coins were launch in January last year.

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Elsewhere, Skyline, a Singapore bar that terms itself as the world’s highest cryptocurrency club, offered a New Year’s Eve package for a Bitcoin. The services included a limousine pick-up and butler service.

Located on the 45th floor of a skyscraper overlooking a glittering waterfront, the bar is typical for party goers. “Bianco” party is like all night long with revelers enjoying drinks and dances. Also, display of New Year’s fireworks over the waterfront.

It was the first time the club offering Bitcoin deal although revelers could still pay in cash. However, it was after they got a lot of inquiries about the package and after their other successful crypto themed events and parties.

Rajamanickam told AFP,

“We had a couple of cryptocurrency after-parties here, and we have also themed a night … called Crypto Thursdays.  So that got the ball rolling for cryptocurrency acceptance here at Skyline”.

However, some customers were still skeptical of high prices and Bitcoin volatility. Spencer Campbell, a 47-year-old financial consultant said,

“It’s too expensive to buy alcohol or (conduct) any transaction using cryptocurrency in today’s environment”.

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