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| Source: Skyline. Skyline is trialing the acceptance of Ethereum. |
Skyline operator Subaish Rajamanickam said, "We hope to expand this two-day trial of Ethereum acceptance as payment for drinks and food into a daily acceptance of multiple cryptocurrencies."
Customers will be able to use their Jaxx and Ethereum Free wallets to pay for drinks with Ethereum using the COSS payment gateway in a pilot collaboration between COSS and Skyline. Through the gateway COSS merchants such as Skyline can accept online payments from fiat (traditional money) to cryptocurrencies from customers.
According to Skyline Singapore is considered one of the most cryptofriendly countries in the world, largely due to its stable politics, reliable infrastructure, and favourable business environment. Local banks such as DBS, UOB and OCBC have participated in proof-of-concept of Blockchain for clearing and settlement of payments and securities called Project Ubin.
Blockchain is the technology that powers cryptocurrencies, and is used to represent asset ownership, designed to work without downtime, censorship, fraud or third-party interference. This enables developers to create markets, store registries of debts or promises, or move funds in accordance with instructions given in the past (like a will or a futures contract). Cryptocurrencies like Ethereum run on a custom Blockchain.
Blockshow Asia, a networking platform for the cryptocommunity in Singapore, is expected to be attended by industry pioneers, enthusiasts and investors.
Skyline is a rooftop bar at 50 Raffles Place, Level 45, Singapore Land Tower, Singapore 048623
Admission costs S$20, inclusive of a drink.
It is open on Tuesdays from 5pm-1am, Wednesdays to Fridays from 5pm-3am and on Saturdays and the eves of public holidays from 8pm-4am.
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