A poll running on the IMF website asking the question asking “How do you think you will be paying for lunch in 5 years?” now has almost 26,000 responses.
The response is clear, hedging towards crypto with 56% of respondents going for the flagship crypto with only 9% and 7% respectively suggesting payments in 2024 will be made with cash and bankcard.
Of course, IMF’s poll is limited to lunch, but clearly could well be extended to online and in-store purchases. However, eating out on crypto is not as difficult as one might think, which is probably reflected by the respondents’ views.
Asia is ahead of the game with Bithumb, South Korea’s largest cryptocurrency-to-fiat exchange and the world’s 6th largest digital currency, who installed cryptocurrency-accepting kiosks across the country, at restaurants, cafes, stores, and malls in 2018.
Starbucks chairman Howard Schultz has warned that cryptocurrencies need to be adopted by retailers in order to join reserve currencies around the world. The Bakkt project has for the latter part of 2018 been touted as the platform to finally make way for mainstream institutional investors to get into the cryptocurrency game and could see the beginning of Starbucks crypto coffee and bagels.
Currently, CoinMap identifies over 14,600 establishments that accept Bitcoin across the world, but these are not simply eateries such as restaurants and cafés. Scandinavia may be the place to dine on Bitcoin though. Denmark is keen and now registers 1500 restaurants which will happily take clients BTC for a tasty meal. Further south in Holland, Arnhem, once called the “world’s most Bitcoin-friendly city”, is now seeing BTC less used for such payments.
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