South Korea’s Goto Mall Prepares to Introduce Bitcoin Payments

Bitcoin acceptance in the real world remains a  big problem, even in 2017. More specifically, the number of physical retailers accepting Bitcoin payments is still pretty limited. Changing that situation will not be easy whatsoever. In South Korea, things may start to improve pretty soon. More specifically, the largest underground mall – Goto Mall – in the country will enable Bitcoin payments soon. Another big change for Bitcoin in South Korea, that much is certain.

It is always good to see more retailers add a Bitcoin payment option. Although several locations around the world have already done so, there is still a lot of work to be done. It will take many more years until things improve in this regard. Over in South Korea, Goto Mall is one of the first to launch a large-scale effort in this regard. In fact, around 600 retailers will integrate this payment method in the near future. That is a positive trend, which will hopefully make Bitcoin more attractive to consumers as well.

Goto Mall Embraces Bitcoin Again

This decision comes at a very interesting time. We see the Bitcoin price set new all-time highs on a very regular basis. Most of this momentum results from South Korean traders making a big impact in this regard. With Goto mall now joining the fray, things will get very interesting moving forward. It is the largest underground shopping center in all of South Korea. With over 600 stores to choose from, things may get very exciting for Bitcoin in the near future. It seems the vast majority of retailers will accept Bitcoin payments in the very near future.

This shopping mall can become a major Bitcoin hub in the coming years. It is already frequented by a lot of pedestrians on a regular basis. Moreover, Goto Mall is a crossroads for public transportation as well. There is also a good amount of foreign customers frequenting this location, which can only be considered to be a good thing. The big question is whether or not anyone will actually use Bitcoin as a payment method. Only time will tell if that is the case, though.

South Korea is quickly becoming a very prominent country in the world of Bitcoin and cryptocurrency. More specifically, the exchanges dominate the trading volume for a lot of cryptocurrencies. The local government is also open-minded when it comes to Bitcoin and altcoins. With Goto Mall now getting on board, things will only improve from here on out. It is not the first time this location experiments with Bitcoin either. The previous trial wasn’t too successful, although it wasn’t due to a lack of adoption. Instead, retailers had issues remembering the passwords related to their Bitcoin accounts. We can only hope this new trial goes a lot smoother for all parties involved.

Header image courtesy of Shutterstock

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