Europe's largest independent tire seller allows crypto payments! Despite the crisis, the crypto ecosystem continues to develop silently. Behind the infrastructure that is being put in place, the objective is to democratize crypto adoption as much as possible.
However, this will inevitably go through agreements with companies and brands to set up means of crypto payment. Precisely, we have just learned that a big name in tires authorizes crypto payments.
Buy your tires in crypto? Possible at Vaculug!
Vaculug, does that speak to you? Perhaps not… However, you should know that this English firm is the leader in the sector of tire sales in Europe among independents. Why talk about Vaculug and tires?
Quite simply because the English brand has decided to authorize payments in crypto . Concretely, at Vaculug you can pay for the purchase of your tires as well as their mounting and balancing in crypto.
Bitcoin (BTC) and Ethereum ( ETH) will be the two cryptos used. For this, the company approached a blockchain partner, Dunross and Chan Ltd. This firm will take care of the technical side such as setting up the architecture and the processing of crypto transactions.
With this initiative, the brand hits hard and becomes the first player in the sector to include crypto payments!
READ MORE: Ethereum At The Top And Bitcoin Soars
Blockchain, a technology of the “present”
The company is happy to show the way of blockchain and cryptos to its still reluctant competitors. According to its IT manager, the blockchain is no longer a technology of the future but rather of the “present”.
For Vaculug, the opening of crypto payments makes it possible to meet the new needs of consumers.
“Blockchain technology is not the future but the NOW. We believe that all businesses will have to accept cryptocurrencies in the near future and we are proud to be the first retreader to do so. We believe that as a customer-centric company we need to move with the times and offer our customers more options than just pounds. Plus, it reduces transaction costs for all parties involved and delivers more value to our customers.”
Jason Humphries, IT Manager at Vaculug.
“We are proud to have partnered with Vaculug to develop the necessary modules for their industry-leading VMS management system to be able to receive secure payments via blockchain. We have worked with Israeli cybersecurity companies to develop what we believe is the most secure platform in the industry." Sam Dunross, CEO of Dunross and Chan Ltd.
Crypto payments are going mainstream (slowly)…
Let it be said, the bear market does not mean the end of cryptos, on the contrary! Out of sight (or not for that matter…), crypto developments continue. In parallel with the ecosystem, the whole issue concerns the utilities of crypto, in other words, the possibilities of payments in crypto.
By democratizing crypto payments, it is a concrete and practical way to raise awareness and attract people to the benefits of crypto.
For example, one need only recall Tesla 's announcement to accept crypto payments last year. If the brand has since backtracked, the enthusiasm generated by this announcement has been immense.
Vaculug's initiative should be highlighted because it comes at a time when the crypto environment is not good. Admittedly, the state of the current crypto market does not necessarily seem conducive to taking a position in favor of cryptos.
Indeed, if some companies are ready from a strategic and technical point of view to take the plunge, they are waiting for a "more favorable" moment to do so.
Moreover, a few months ago, Deloitte conducted an interesting survey of sales professionals. The survey found that 85% of these professionals considered establishing crypto payments an “important” or “very important” priority.
The survey was conducted based on a sample of 2,000 senior executives from retail organizations in the consumer goods and services industry. All of the following sub-sectors were represented in this survey: cosmetics, digital products, electronics, fashion, food and beverage, home/garden, hospitality and leisure, personal and household goods, services and transport.
When the market picks up, it is therefore a safe bet that many companies will set up crypto payment services.
READ MORE: MLS Signs A BAYC As A Digital Athlete!
0 Comments