BrewDog recently announced Bitcoin and Bitcoin Cash payments in its latest London pub. The popular hipster pub chain also says it will base its beer markup price to the movement of the Financial Times Stock Exchange (FTSE) 100 Index.
Pay with Bitcoin and Bitcoin Cash
The craft beer giant recently opened a new pub in the Canary Wharf business district. The new pub is the company’s second cashless establishment and the first to accept cryptocurrency payments. Announcing the opening of the new pub, a statement on the BrewDog website reads:
BrewDog Canary Wharf will be proudly accepting Bitcoin (BTC) and Bitcoin Cash (BCH) from the day it opens on Friday the 19th – and we hope to eventually roll out this way of paying into all of our UK BrewDog Bars. Those who rock up to our newest London bar can use either Bitcoin, Bitcoin Cash (or card) to pay for any of the 20 taps of super-fresh craft beer, takeaway bottle and can options, and our loaded menu of burgers, pizza, and wings.
Apart from the cryptocurrency payment option, the new pub will also feature an electronic dot matrix showing daily trading results. So, when the FTSE 100 Index goes up, beer prices will follow and vice versa. Commenting on the plan, BrewDog co-founder, James Watt, said:
We’ve always prided ourselves on our desire to keep innovating. We’ve done it with beer, we’ve done it with our business model, and now we are championing a new way of paying for a pint. Our Canary Wharf bar is the bellwether of a payment revolution.
Increasing Cryptocurrency Adoption in Restaurants and Bars
BrewDog’s Canary Wharf pub isn’t the only such establishment to accept cryptocurrency payments. Across the pond in New Jersey, an Italian restaurant recently announced that customers could pay using Bitcoin and Litecoin. The move is part of a greater case of cryptocurrency adoption in New Jersey pioneered by payment processing firm Nationwide Merchant Solutions.
Elsewhere, Betty’s Place, a restaurant in Nyeri, Kenya also made the news recently for accepting cryptocurrency payments. The owner of the restaurant also offers cryptocurrency tutorial sessions in a bid to educate locals on the emerging virtual currency narrative.
Do you think creating a correlation between the price of beer and the FTSE 100 Index is a great idea? Let us know your thoughts in the comment section below.
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