Major Cineplex, which is Thailand's biggest Cinema chain has declared that it will accept payments in cryptocurrencies. This move is taken in order to increase the usage of cryptocurrency in the country.
Cryptocurrency payments for popcorn and tickets
Presently, Crypto owners possess very limited options to spend to spend their cryptocurrency. The one and the only way by which crypto will be accepted in the society is if crypto owners are provided different options to spend coins on everyday things like movie tickets.
According to the latest statement, movie fans will be able to spend crypto not only on movie tickets but also on popcorn and various other snacks. The cinema will accept popular crypto coins along with Bitcoin.
In order to allow crypto payments, Major Cineplex has made a collaboration with Swiss payment firm, Rapidzpay, which will help to build digital-payment system. Secondly, the Rapidzpay will install several point-of-sale (PoS) to facilitate crypto payments.
In the last few months, Thailand has enforced new regulations on the crypto industry which ended with the Thai Securities and Exchange Commission now accepting licensing applications. A per reports, Thai Bond Market Association (TBM) were especially planning to release a blockchain powered solution which is built on smart contracts. By keeping in mind this and new initiative by Major Cineplex, Thai is moving rapidly towards crypto space.
Major Cineplex and Rapidzpay will work together
The new collaboration between Major Cineplex and Rapidzpay could change the thoughts about crypto in the nation and also will be beneficial for the entertainment industry.
Until now, Major Cineplex hasn't declared the coins which it will accept for cryptocurrency payments, however, we could expect major cryptocurrencies like BTC, BCH, and LTC.
As of now, Major Cineplex owns 678 screens in Thailand along with 7 in Cambodia and 9 in Laos. Apart from this, Forbes released a news which stated that the company is going to increase the total number of screens to 1000 by 2020.
Chanya Tamrongweenichai, who is the director of Major Cineplex stated that:
“With RapidzPOS and the RapidzPay mobile app, you’ll be able to buy any services and products from us, such as movie tickets, popcorn, and other different products with cryptocurrency.”
Targeting a wide number of people with the new initiative from Major Cineplex to accept Cryptocurrency payments at the theatre would create a crypto revolution around the nation. From this, we can expect that other industries will allow crypto payments in the near future.
