Every crypto enthusiast knows that, even
though crypto transactions are fast and cheap,
it is still hard to leave fiat
currencies behind.
Blockchain based payments are still a novelty and it's
not easy to find merchants who accept crypto.
However if you look at a map that
shows all the BCH accepting merchants,
there is one country in Europe that pops
out above all the others
Slovenia
The two million strong ex-Yugoslavian state
is located in the heart of Europe
and it's a thing of beauty.
The capital Ljubljana has a population of less than 300,000.
Despite its size the city offers more places to pay with Bitcoin Cash than the entire US.
But why are cryptocurrencies so successful in Slovenia?
How did this country become one of Europe's most prospering blockchain centers?
Slovenia has been a pioneer in
exploiting blockchain technology for years,
and this endeavor is strongly
supported by the highest level of local politics.
The situation in Slovenia is
actually very positive.
The country and the government is very loose towards the cryptocurrency
and you know, it's it's
legal to possess and trade
cryptocurrencies.
The capital income from cryptocurrency
is not subject to income
taxation for individuals,
which makes the country particularly attractive to
entrepreneurs in the industry.
Legislators have a pivotal role in the
creation of a blockchain friendly environment.
In addition, the local government is constantly studying
which administrative areas could use
blockchain technology.
Even the Ex-Primeminister Minister, dr. Miro Cerrar
spoke about his government's intention of using blockchain in administration.
This legislative support offers an incentive to entrepreneurs
thus Slovenia has numerous companies and startups in the blockchain industry.
Some of the best examples are: Origin Trail, Viberate and Eligma.
Origin Trail helps to bring transparency to international supply chain,
while Viberate is focused on
creating the world's biggest curated
live music database with over 500,000
events using blockchain.
And then, there is Eligma.
The company is building
a smart commerce platform to create a
unique shopping experience by using
cryptocurrencies and AI technology.
Eligma has developed Elipay, a transaction
system that enables in shop purchases
with Bitcoin cash, Bitcoin Core, Ether and the
ELI token.
Elipay is the single biggest reason
Slovenian merchants accept
crypto at an unprecedentedly high rate.
Especially in Ljubljana, where a shopping
center called BTC city, is committed to
be a functioning test lab for crypto
payments.
With it's 500 stores, it is amongst the biggest shopping complexes in Europe
and about a hundred of those stores offer in shop crypto payments through Elipay.
And who could be better to test it, than Roger Ver?
I think Slovenia can win the world's
attention and build some
world-changing businesses right here.
Like, the fact that there's so many
people and businesses accepting Bitcoin Cash
and cryptocurrency using Elipay that's a big deal, because cryptocurrencies are the future.
These kind of projects carry an important message for the crypto industry.
Cryptocurrencies have usability beyond trading, and are here to stay.
I think the entire point of cryptocurrency was preferred to
be used as a currency. That means, to buy, and
sell and pay for things around the world.
According to BTC City, there is a growing
trend in usage and the number of Elipay
wallet users already exceed 15,000.
The Elipay system now accepts payments from
the Bitcoin.com Wallet application,
allowing the owners of the more than
four million user generated wallets, to make purchases in-store.
There's too many things to
choose from, I don't even know what to buy.
Following the launch of the Elipay
system in 2018,
even the ex-Prime Minister Miro Cerar
was invited by the Secretary of State
for a coffee he purchased with Bitcoin.
So, the Prime Minister came to see what Bitcoin City is,
and one of the things was, we immediately installed for them Elipay on the phone,
and we gave him some
crypto and he said, so well now can I pay?
You know, can I pay for the coffee that
we just drank? And we said yeah, sure you
can. So he took the phone, he went, he paid
and he actually made the first
transaction over there in that
restaurant and it was really awesome,
because if the Prime Minister understands
what's the purpose
then we all, you know are winning.
The scene was also
symbolic, it showed a future when paying
with Bitcoin will be as common as paying
with a credit card.
I think we'll see
tens or even hundreds of thousands of
physical shops accepting Bitcoin Cash in
the not-too-distant future because the
work of companies like Elipay and others.
Right now Slovenia is a forerunner of a
world where crypto only living isn't
just a utopia, but an available
alternative.
Just yesterday we went to
the very first business in all Croatia
to start accepting Bitcoin Cash using Elipay
and that's the first of hundreds of
businesses that are about to be rolled
out in Croatia, thanks to the Elipay team
and it's gonna spread from there to the
rest of the world.
Whether the country
becomes a stronghold for blockchain and
cryptocurrencies is yet to be seen, but
nothing shows Slovenia's enthusiasm more
than the fact, that it is probably the
only country with a monument dedicated
to Bitcoin.
