The mass adoption of cryptocurrencies is taking a new step with latest reports stating that Bitcoin [BTC] and Bitcoin Cash [BCH] will be accepted at a popular pub in the United Kingdom.
BrewDog Canary Wharf, which is set to open towards the end of October 2018, released a statement to confirm that they will be accepting Bitcoin and Bitcoin Cash for their products, mainly beer. The company has also stated that the first hundred customers will be given the added bonus of a cryptocurrency wallet top up. The company said:
“To celebrate, the first 100 people through the doors will score a Bitcoin Cash wallet loaded with anywhere from £12 to £100!”
This is not the first time that Bitcoin will be used to buy beer, a feat that was earlier achieved by a bar in Berlin called ROOM77.
The rapid adoption of cryptocurrency in the United Kingdom comes in the wake after Margot James, the Digital Minister of State for DCMS, spoke about Theresa May–led government’s stance on blockchain technology and its use cases. James cited the example of UK’s Financial Conduct Authority [FCA] that had an eye on blockchain technology.
She stated that the regulatory body had incorporated a security mechanism wherein they proceed to test products and services in a live market set up with relevant “safeguards” in place. The “safeguards” mentioned by the government official was further emphasized on by James when she praised its applications across the world. Margot James added:
“Across the first two cohorts of companies supported by this process, the most popular technology employed has been blockchain.”
The UK’s relationship with digital assets has been a tumultuous one, which was made evident when the country’s Treasury Committee published a report that talked about the steps that needed to be taken by cryptocurrency investors and enthusiasts. The report stated:
“The Committee is aware of the establishment of self-regulating bodies in the crypto-asset industry such as Crypto UK, which set out codes of conduct and best practice for the industry. However, as these standards are wholly voluntary, there are inevitably firms ignoring them.”
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