A France-based platform is hoping to bring Bitcoin to tobacco stores all over France in a bid to foster adoption.
There’s no denying that the crypto markets are seeing red. With Bitcoin trading at just over $4,500 at the time of writing, it is worth nearly half as much as what it was this time last year. Companies and people all over the world are concerned but its drastic losses don’t seem to be worrying a French-based FinTech company.
Put that in Your Pipe and Smoke It
Imagine you’re living in France and have just entered your local tobacco store. You stock up on your favorite blend and while you’re paying, you also have the option of purchasing some bitcoins. While this may sound like a crypto enthusiasts’ future dream, it could happen sooner than you think.
According to IG, Keplerk is on a mission to bring Bitcoin to the masses, well, those in France at least. The company has collaborated with a French cash register software provider that will bring the virtual currency to tobacconists all over the area. The software will allow these shop owners to sell their customers a voucher that can be redeemed for actual cryptocurrency on Keplerk’s platform, which offers its users a digital wallet. The company will reportedly charge a 7% commission fee for each transaction made.
Keplerk’s Director for Strategy and Development, Adil Zakhar, said:
Tobacco shop owners are the best channel as they are trusted by customers and they are used to sell vouchers such as credit for mobile phones.
Soon, if all goes to plan, these owners will be able to add cryptocurrency vouchers to their lists of goods offered.
Bitcoin and Crypto Acceptance
Live Bitcoin News recently reported that France is working at compiling a draft of ICO guidelines in a bid to capitalize on the industry. However, when it comes to Keplerk’s initiative, the country’s central bank is definitely not on board. In a statement, it added that “those are purely speculative assets and not currencies. Those who invest in Bitcoin or other crypto-assets do it at their own risk”.
Regardless of any institution’s critique, more and more retailers are starting to accept crypto as payment at their establishments, from U.S. jewelry platforms to London-based breweries. In fact, Financia Business School in Paris has also begun accepting virtual currencies as payment for student tuition.
If this new initiative is successful and more people buy Bitcoin in the country, they may be faced with lower tax rates as authorities in France are seeking to cut capital gain taxes on virtual currencies.
Do you think that this project will be successful? Will we see tobacconists in France selling Bitcoin? Let us know in the comments below!
Images courtesy of Pixabay and Shutterstock.