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In France, Retail Outlets May Start Accepting Bitcoin Soonest

In a country that boasts of close to 4 million individuals who have cryptocurrency holdings, France is taking a new initiative that targets early next year(2020) for 25,000 big retail outlets to start receiving Bitcoin as a means of payment from consumers.

 

This was made known during a major French event and was reported in the French crypto space likewise as 30 big retailers have been scheduled to be part of this massive crypto adoption initiative. Decathlon and Sephora, two big brands in the sports and cosmetic industries respectively are also included.

 

Recall that early this year, January to be precise, some tobaccos stores despite stifled opposition began selling for  Bitcoin.

 

Economy 3.0: Targetting 25,000 Consumers in France

How this initiative of cryptocurrency payments will run through a simulation of Global POS, Easy2 play and Easy wallet app. (Global POS is a giant POS technology provider while Easy2play is a payments platform).

 

The chain will start from a payment made in BTC, then this payment will be converted into a fiat currency, Euros at that point of purchase of goods and services. This will be executed in a legal and regulated framework.

 

Savitar and Deskoin, which are partners likewise are both going to be responsible for converting Bitcoin to Euros, although both companies are yet to be licensed as Digital Asset Service providers, however, the ongoing applications for registrations are already on the ground.

 

Intersport, Norauto, Cultura, World House, Boulanger, Maisons du Monde are big brands also expected to sign into Economy 3.0. A top-notch executive of Global POS spoke on the new initiative as a milestone development in France’s Payment options.

 

Targetting Altcoins as Well

Top-notch executive of Global POS, the founder, Dijane has revealed plans to bring Altcoins onboard the platform.

 

Recall that France has over 4 million persons who have cryptocurrency holdings, so the introduction of other cryptocurrencies on cards apart from Bitcoin which is the only major one, for now, will increase crypto adoption on the long run.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.