Despite the fact that China’s ban on cryptocurrencies remains intact, there are more signs that people and businesses have not abandoned the space. The “Beijing Sci-Tech Report”, China’s oldest technology journal, is now accepting bitcoin as its official method of payment.
The Beijing-based publication, which also goes by “Technology Life”, just announced that they will accept bitcoin as a method of payment starting with 2019 subscriptions. It’s an important step toward the adoption of bitcoin in the mainstream.
The price for a one-year subscription to “Technology Life” will be 0.01 bitcoin, which is worth approximately $65 at current prices. Customers can purchase an annual subscription by paying the amount to the publication’s bitcoin address. CN Ledger tweeted –
China's oldest tech media – Beijing Sci-Tech Report (BSTR) announces its "Tech Life" now accepts Bitcoin subscription (0.01BTC). BSTR explains that the main purpose of this move is to promote the blockchain technology through practical actions.
— cnLedger (@cnLedger) September 30, 2018
Bitcoin Price Volatility
After the first year, if the bitcoin price attains some of the bullish price levels that have been predicted, “Tech Life” has a plan to distribute some refunds to subscribers who paid with bitcoin.
“Beijing Sci-Tech Report” is China’s oldest tech-based magazine publisher. Their publications have delivered the latest news from the tech sector for more than half a century. In recent years, the parent company also launched the popular US publication “Popular Science”.
The spread of blockchain technology, as well as trust in cryptocurrencies like bitcoin, is growing and thriving with each of these small steps. Luxury watchmaker Hublot was similarly thrust into the spotlight when it announced that its newest watch model can only be purchased with bitcoin. Hublot will begin shipping the watch in 2019.