Major Canadian-based jewelry manufacturer and retailer Birks Group has begun accepting Bitcoin through a partnership with U.S. payment processor BitPay, the company confirmed in a press release Nov. 28.Birks, which has operated since 1879, will initially accept the largest cryptocurrency in eight of its 30 domestic stores in Canada.
Seven are already servicing Bitcoin payments, with the facility coming to the company's latest Graff and Patek Philippe stores in Vancouver "Soon."
Commenting on the move, Jean-Christophe Bédos, president and CEO of Birks Group, described the decision as being of "Great significance."
"BitPay will benefit our customers as we look to align ourselves with these innovative capabilities that are on the forefront of technology," he said.
As Cointelegraph has reported, Bitcoin's underlying blockchain technology has seen multiple use cases in tracking materials in the jewelry industry, with dedicated startups focusing on using it to increase diamond supply chain transparency.
In October, the world's largest diamond producer Alrosa joined one such blockchain tracking pilot in the form of De Beers' Tracr.
"Birks Group has a large number of international shoppers so allowing them to pay in bitcoin makes perfect sense," BitPay's chief commercial officer Sonny Singh added.
BitPay is currently embroiled in controversy over its security practices after the discovery a developer had injected malicious code into its Copay wallet this week.
While it remains unclear as to whether the vulnerability was ever exploited over the three months since it was created, cryptocurrency industry figures were quick to pour scorn on the company.
Canada: Birks Group Jewelry Retail Giant Begins Accepting Bitcoin in Eight Locations
pubblicato su Nov 28, 2018
by Cointele | pubblicato su Coinage
Coinage
Menzionato in questo articolo
Notizie recenti
Vedi tutti
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.