BitCoin Price Tags That Update In Real Time Depending On Market Value
Peter Donnell / 3 years ago
Bitcoin is being accepted in more and more locations almost every day now, with many major retailers getting on boards with the crypto-currency that has been taking the computer world by storm in recent years. Now it looks like it may start even being accepted in the world of high-street retailers with the creation of the Bitcoin price tag.
The tag shows the items price in local currency, this is the fixed price and let’s say for example it is $40, the value of Bitcoin fluctuates constantly, so the amount of Bitcoins needed to meet that price at that time would be displayed in realtime. You can literally stand there and watch you’re clothes get cheaper, or panic as you see the number of coins required go up! Which is actually rather cool.
The new system looks like the perfect solution for retailers as it avoids the issues with Bitcoin’s fluctuating value, or at least some of the issues because BitCoin could still crash after the retailer has taken the payment, unless of course its automated to sell the coins for cash value as the sale goes through.
“[The] Bitcoin transaction can be activated by a simple ‘shake’ of the BitTag,” the product’s website explains. “Enabling a Bitcoin QR code to be displayed on the display and scanned by the user’s smartphone.”
It’s an interesting project, the only downside is that each price tag currently costs around £40/$60. Of course if the idea takes off, the production price will come down pretty quickly.
Thank you BBC for providing us with this information.
Image courtesy of BBC.