One of the oldest technology news portals in China and a newly-opened hotel in Sichuan are the first Chinese firms to accept cryptocurrency as a payment method. This adoption movement is coming as opposing the latest cryptocurrency regulations tensions that the Asian giant is experiencing.
Beijing Sai-Tech Report, also known by its acronym BSTR, has announced that subscriptions to its famous magazine named Tech Life may be paid in Bitcoin (BTC) by 2019, thus becoming the first media in China to accept cryptos as a payment method. According to national media reports, subscriptions would cost 0.01 BTC, or approximately 65 dollars or 450 Yuan.
BSTR is one of the tech news companies specialized in the sector of technologies with a higher trajectory across China, as well as one of the firms that has closely followed the development of crypto and blockchain technologies. In this regard, the company’s directors consider that their understanding with these modern innovations has motivated them to adopt cryptocurrency as a payment method.
Besides Beijing Sai-Tech Report, a hotel in China accepts cryptocurrency payments
On the other hand, in the province of Sichuan, specifically in the National Scenic Area of the Four Girls Mountain, an area recognized worldwide by eco-tourism, there is the first hotel in China to accept cryptocurrency payments. More specifically, the hotel accepts Ethereum (ETH) as payment, becoming a milestone in the Asian giant’s hotel industry.
The hotel has a design themed on cryptocurrencies and is even called the Ethereum Hotel. It also has a view of the natural heritage of this tourist area of Sichuan, offering 55 rooms, 2 swimming pools, a meeting room, as well as pictures alluding to the cryptomedas, according to the Jinsen portal.
It is known that the hotel has been constituted thanks to the financing of a group that identify themselves as the dominant Chinese shareholders of Ethereum (ETH) which also seeks to capture the attention of visitors who are involved with cryptocurrency and blockchain technologies.
Ian Kennedy is the newest contributor to Crypto Daily Gazette. He enjoys running, practicing minimalism and cooking. Ian is a graduate of Wesleyan University in Connecticut where he studied journalism, Arabic and international affairs. Ian mostly covers stories concerning emerging blockchain technology.