Bitcoin is now entering into a new Latin American country. EspañolCalifornia Cantina in Santiago, Chile will be the first restaurant which will be accepting Bitcoin. In fact, it is the first nightclub in all of Latin America which is going to accept Bitcoins. The revelation came when their director of press and public relations, Sonia Galleguillos disclosed this recently.
Thus, following the official launched on January 8, the restaurant will be a Bitcoin “pioneer” for Latin America. In her statement Galleguillos said that the club has received significant interest on social media regarding the restaurant’s decision to accept the digital currency. Bitcoin which is making great inroads in the world around is expected to become popular after this initiative in Chile.
EspañolCalifornia Cantina Partners With Coin4ce
The organization is willing to help customers in every front and in order to provide better processing the restaurant will utilize an application developed by Coin4ce. The company source says that the most prominent company for buying and selling Bitcoins in Chile is coordinating it for a better user-experience.
The organization believes that the application will allow patrons to make purchases through their smartphones, by scanning QR codes generated by restaurant iPad that facilitate the process. In fact, Adam Stradling, founder at Coin4ce.com showed his happiness about the association with EspañolCalifornia Cantina.
In his statement, he said that as a Chile-based Bitcoin company supporting customers in Chile and Mexico, he is happy that it will help the Bitcoin ecosystem in Latin America, which is currently lagging behind the United States. According to him, while there are now thousands of merchants accepting Bitcoins in the United States, there are only a few in Chile.
There Won’t Be Delays in Transaction Confirmation
A source from EspañolCalifornia Cantina says that transaction confirmation delays are often a primary concern regarding the viability of Bitcoin as a functional currency as there is highly complex algorithms required to confirm transactions in the Bitcoin network. However, the organization is trying to streamline the process for a better user-experience.
Galleguillos says that purchases at the restaurant should be complete within 20 seconds. He says that the fast processing will allow the restaurant to avoid typical credit card payment processing fees from firms such as Transbank and that will be an awesome experience for customers in Chile who for the first time will be using Bitcoin for the purpose.
To contact the reporter of this story: Deepak Tiwari at Deepak@forexminute.com