Customers of Coinbase will be able to pay for the products by scanning code on the Coinbase wallet. The company will accept payment in a variety of cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Reis & Irvy Inc will be the first to accept cryptocurrency in exchange for a range of frozen yogurt and ice cream consumables. The company will install vending robots in different locations. The first of these will be installed at 1000 select locations in the United States this spring and summer. The robots will accept a range of cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BTH), Litecoin (LTC) and Ethereum (ETH).
Chairman of Generation NEXT Franchise Brands Nick Yates said,
“Not only is using the Coinbase app easy and fun, but it is fast,” said Nick Yates, Chairman of Generation NEXT Franchise Brands. “Although it can vary, our initial tests show that the software takes less than 5 seconds to process for Bitcoin Cash and Litecoin transactions”.
Customers will order the products on a 10-inch iPad touchscreen and have the option to pay with crypto. Additionally the other digital methods such as credit card, Apple Pay, Google Wallet and cash.
Yates said they can now use the technology to generate more revenue, drive excitement and enhance the customer experience. He said cryptocurrencies have a low transaction fee of only 3 percent or less. He said Bitcoin and Ethereum are not processing quick enough at this time and the fees. It ” seems to categorize themselves as more of asset class then as a currency.”
Binance has also created a kitty for future bounties and calls on other platforms to do so saying that this will prevent hacking activity. The exchange suffered hacking threats to its trading bots last week although it says all funds are safe.