[ad_1]
Yesterday, October 31, Bitcoin cryptocurrency (BTC) celebrated its tenth birthday. As part of the celebration, a company called Bizkey decided to start a new campaign called "Token Day" in Singapore.
Token Day is a campaign that should allow the public to become familiar and familiar with cryptocurrencies based on reports. Not exactly one day as it will be held from October 31st to November 18th. During this period, each cryptocurrency holder in Singapore will have the opportunity to reach Singapore's Chinatown, where 30 dealers offer different products in exchange for a crypto.
Those willing to spend their digital coins will need Bizkey's intelligent Point-of-Sale POS (POS) device. Numerous cryptocurrencies can be used, including Binance coins, Ethereum coins, Zilliqa coins, Aelf coins and others.
Bring Crypto Adoption to the next level
Although Singapore is one of the most cryptic places in the world, the adoption of cryptocurrencies as an accepted payment method is something that has yet to happen. This is the reason why the event was created, and Bizkey hopes that the Token Day can "break the ice" and encourage other companies to introduce cryptographic payments as well.
About a year ago, in November 2017, the Monetary Authority (MAS) of Singapore decided to introduce new guidelines and establish a clear difference between security tokens and utility tokens. Since then, Singapore has seen over 56 ICO only in the first five months of 2018. To make a comparison, there were only 35 ICOs throughout 2017. For many people, this was a sign that proper regulations can do a lot when it's about developing new businesses and technologies.
Since then, many have begun to see cryptocurrencies as a method to solve problems that have troubled the retail industry for a long time. Things including payment fraud, logistics, delays in money transfers, accounting and similar complications were quickly eliminated by those who accepted cryptocurrency payments.
Bizkey's CEO and co-founder, Ken Huang, commented on the event saying that even in Singapore, only a few people have the opportunity to actually use encrypted to buy products and services. Now, Token Day will show that the use of cryptocurrencies is easy and that there are more than enough customers interested in paying via encryption.
In fact, Huang said there are between 10,000 and 15,000 cryptocurrency holders in Singapore. Estimates also say that most of them are between the ages of 20 and 50 and that they probably include expert technology men. Huang also expressed the hope that these individuals will be among the pioneers of spendthrift during the 18 days of the event.
As for the event, there will be around 30 dealers, including Hotel 1887, SK Jewelery, Koryo Mart, 18 Hours, Steamov and others. The move is in line with the goal of Bizkey, which is to introduce new people into the encrypted world and make sure they have a device that can accept and make all kinds of cryptographic and fiat payments. In a sense, their device acts as a cryptographic wallet with an additional purpose and many consider it a first step towards the true digital age.
Image from Shutterstock
