Every day, news of stores across the world starting to implement cryptocurrency payments come out in tech blogs and news websites. Recently, the Brisbane Airport announced that they were developing a completely crypto friendly terminal. Starbucks’ former CEO also discussed blockchain, digital currencies and the opportunities they represent for the coffee chain in the future. News is now coming from Japan, as one big Japanese electronics store has decided to roll out virtual currency payments in some of its stores.
Japanese Electronics store chain Yamada is now accepting bitcoin as a means of payments in two of its retail stores. One store is located in a bustling neighborhood of Tokyo, while the other one is in the outskirts of the Japanese capital. To implement this new payment system, the electronics retailer announced a partnership with bitFlyer, one of Japan’s most popular and biggest cryptocurrency exchange. This change has been made over the weekend, and bitcoin payments in these two stores are fully operational as we speak. Company officials issued a statement and said: “In addition to diversifying [our services], we will implement initiatives to improve bitcoin recognition and usage promotion.” The company is taking cryptocurrencies seriously and believes that they can provide a better experience for customers.
Yamada is following in Bic Camera’s footsteps. Bic Camera is one of the leading electronics retailers in the country, with 41 locations. The company has already implemented bitcoin payments for months now and claims the operation to be successful so far. It is possible to imagine that Yamada Denki has started to accept bitcoin in an attempt to catch up with the competition.
Japan and its population are very involved in bitcoin and other cryptocurrencies. Time will tell whether officials and governments follow large organizations such as Yamada and Bic Camera, or if they will favor regulations and bans.
TLDR: Japanese electronics store Yamada Denki has introduced bitcoin payments in two of its stores over the weekend. If this “test-run” is successful, the company could roll out crypto payments to more stores across the country.