Despite the continuing bear market, some companies recognized the opportunities and benefits of blockchain technology and integrate cryptocurrencies into their business processes. A food supplier from Denmark now accepts Bitcoin as a form of payment.
Hungry.dk, a Danish supplier of restaurants and wholesalers with more than 1.500 companies in its database, started to accept Bitcoin (BTC) as a payment method. The company has been testing with cryptos as a payment channel for its customers for several years. However, the bottleneck in the Blockchain in 2017 did result in slow transactions and hefty costs. That’s why Hungry.
“We have accepted Bitcoins as a payment method for quite some time. We decided to remove the feature temporarily last year though because the average transaction time took too long, and the experience wasn’t the best.
The problems have since been solved, and we have added the option again… Hungry.dk handle the payment, so you will always be able to use Bitcoins with all the restaurants currently found on Hungry.dk.”
So far, the company did not make any official statements about how many orders were actually paid for with Bitcoin.
Bitcoin accepted: Worldwide acceptance on the rise
Bitcoin did become an indispensable part of today’s world and its worldwide distribution continues to increase. According to research by Larry Cermak, senior analyst at The Block, there are currently more than 13.000 bitcoin-accepting locations worldwide. Most businesses are located in the United States, followed by Brazil, Italy, Spain, Germany, and Canada.
Although distribution has not yet reached a critical level to rival the traditional financial system, production and acceptance within the industry and the population is increasing daily. Advances in the further development of the Lightning Network also contribute positively. Cermak explains:
“If there is a bull market with high volatility, the number of new traders who accept Bitcoin increases. It’s not clear if anyone really wants to pay with it – but the option exists. It will be interesting to see if the emergence of the Lightning Network can arouse interest and make Bitcoin popular again for payments.”