South Korean Beachgoers Can Now Use Bitcoin to Pay for Services

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The Haeundae Beach System in Busan is part of a pilot project that aims to offer crypto payment solutions to beachgoers in the summertime.

A pilot project run by Bitbeat-affiliate company CIC Enterprise wants to provide crypto payment solutions at two of the busiest beaches of the country for tourists to use.

According to ZDNet Korea, the firm partnered with card and cash payments provider Innotech for the token-powered payments solution in the Haeundae Beach System on the beaches of Busan in South Korea famous with tourists.

The program will allow people to pay for water sports-related activities, life jackets, and even parasol rentals, among others, with Bitcoin (BTC), Ethereum (ETH), along with MCI and WAY ERC20 tokens through a smartphone-based application.

A faster payment solution for tourists

Bitbeat said that such payments could be processed in less than 10 seconds by relying on the use of QR codes for any wallet in the world, making it different from similar projects that often require customers to download separate apps to complete all the process.

The company adds:

“We hope that the virtual currency used in the Haeundae-gu beach system will be more widely used in real life. We will try to provide a cryptocurrency payment environment.”

Busan authorities expect that on summer days, people will prefer to rent services within the Haeundae beaches, instead of bringing their own things to enjoy the time spent on the beaches. Another beach in Songjeong is also running a similar crypto pay pilot.

Also, in Busan, a private-public consortium in South Korea announced on June 20 their intention to build a blockchain-powered medical tourism platform. A launch date has not bet set, and according to Gyeongnam Ilbo, the initiative will be led by Busan Bank.

Original source: https://cointelegraph.com/news/south-korean-beachgoers-can-now-use-bitcoin-to-pay-for-services

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Tensions Flare: Is Bitcoin Cash Headed to Another ‘Catastrophic’ Fork?

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Despite tensions flaring among Bitcoin Cash developers over the protocol’s difficulty algorithm, another chain split seems unlikely.

The Bitcoin Cash (BCH) community is divided over whether to change the cryptocurrency’s difficulty adjustment algorithm, with a recent developer meeting reportedly concluding with attendees storming out of the event.

On August 4, Chris Pacia, the lead developer of the peer-to-peer marketplace OpenBazaar and a volunteer BCH developer, tweeted that “multiple people walk[ed] out” of the meeting as consensus was not reached over whether to make adjustments to Bitcoin Cash’s difficulty algorithm.

Ethereum co-founder Vitalik Buterin tweeted in reply that he doesn’t understand with BCH people “care so much” given “your algo is fine as is” and added:

“I will be honest; being optimistic that BCH development would improve once they got Craig [Wright] out is definitely looking like one of my worse predictions.”

Some reports indicate that growing tensions over the difficulty algorithm may result in yet another BCH chain split. Outspoken Australian BCH proponent Hayden Otto tweeted: “I will be sticking with the Bitcoin Cash (BCH) chain this coming chain split.”

Difficulty algo dispute is ‘trivial’

But speaking to Cointelegraph, Otto said his tweet was meant as a joke to “troll” those opposing BCH’s core ‘Bitcoin ABC’ developers.

He played down the significance of the community disagreeance as “a trivial matter,” but also said that “enemy operatives who pose as BCH supporters” are using the difficulty adjustment algorithm (DAA) as a wedge issue “to create chaos and sow division”:

“Changing the DAA has been made a priority issue by a select few people who want to stop miners gaming the current DAA by switching large amounts [of] hashrate to and from BCH — which results in inconsistent block mining times,” he said.

“This really only affects people who are depositing to exchanges which require an unnecessary amount of confirmations for deposits, but doesn’t affect the vast majority of people using BCH in a personal or business capacity where 0 confirmations are sufficient.”

Otto says fork is unlikely

According to Otto, Bitcoin ABC announced a forthcoming overhaul to the difficulty algorithm come BCH’s next scheduled upgrade on November 15. However, he asserts those who pushed for the adjustment remain unhappy because ABC’s proposed upgrade doesn’t go as far as the ‘BCHN’ implementation that they have suggested.

Despite the disagreement, Otto believes that a BCHN chain split is unlikely, stating that the “BCHN software is not widely adopted by miners” and thus its supporters “will not have a majority vote to get their desired changes through on the upgrade date.”

“They are now relying on ‘proof of social media’ tactics in an attempt to persuade miners and businesses who run ABC to capitulate and swap over to the BCHN software.”

“Right now it’s all just posturing online, but when it comes to the upgrade date I don’t think the BCHN supporters will follow through on anything. They will be a minority chain and another split would be catastrophic for anyone following the minority chain,” Otto concluded.

Original source: https://cointelegraph.com/news/tensions-flare-is-bitcoin-cash-headed-to-another-catastrophic-fork

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