Cryptocurrency is slowly making its way to businesses across the world, and European countries such as Slovenia and Croatia have considered virtual currency in purchasing items. Retail stores are adopting applications in their systems which enable cryptocurrency-based payments apart from regular monetary transactions.
Bitcoin City, Ljublijana
Slovenia’s capital, Ljubljana, has a commercial shopping center known as Bitcoin City. Many of its retail stores use an integrated crypto-based payments application called Elipay which supports coins including Eligma (ELI), Bitcoin (BTC), and Ethereum (ETH). Elipay is an application that functions on both Android and iOS operating systems. Several commercial industries including electronics, toys, food and drinks, fashion, and sports have integrated Elipay and other crypto payment applications.
According to Eligma CEO Dejan Roljic, Elipay’s services stretches out to about three hundred locations with majority of it being found in Bitcoin City. He praises Slovenia’s shopping complex as “the result of infusing one of Central Europe’s largest and most important commercial, shopping and logistic areas.”
Adding the Euro to Elipay
Discussions between Eligma and the Bank of Slovenia revolved around integrating the euro in Elipay, “In addition to the use of crypto for shopping with the Elipay system, the Bank of Slovenia has also approved euro value to be added into Elipay by means of credit/ debit cards and SEPA.”
As the company moves forward with its plans of expansion to Croatia, the country has allowed the legitimate operation of Elipay in its retail stores. A group of blockchain and cryptocurrency investors founded Udruga za Blackchain I Kriptovaluate, or UBIK, in Croatia wherein local merchants could get advice related to crypto-based payments and trading, as well as legal and technical support.
The International Association for Trusted Blockchain Applications, or INATBA, is a group with which organizations and other blockchain associations could work alongside. Some of the founding members of this association include IBM, Accenture, Ripple, and Ledger.