Bitcoin Payments Are Now Accepted at London’s Tooting Market
An important step forward in the UK’s acceptance of Bitcoin has been reached with the addition of Bitcoin payment acceptance at Tooting Market in South London. At the renowned indoor marketplace, a number of vendors began to accept Bitcoin payments.
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On June 18, vendors at the market began taking Bitcoin payments. With assistance from Bridge 2 Bitcoin, the eight businesses—which included eateries, pubs, and a vinyl record store—began to accept cryptocurrency payments. Bitcoin is integrated into Tooting Market by enthusiasts
With assistance from Bridge 2 Bitcoin, bitcoin enthusiast Hashley Giles successfully incorporated bitcoin transactions into the nearly century-old market. Participants in the event included members of the Bitcoin community and organisations such as Pleb Underground, CommerceBlock, Mercury Layer, CoinShares, Civkit, and developers of the Lightning Network.
With this most recent development, Tooting Market might easily become, much to El Zonte in El Salvador, a hotspot for the adoption of Bitcoin in the United Kingdom.
It’s also been said to be the ideal illustration of how local communities may hasten the acceptance and adoption of innovative technologies such as Bitcoin, establishing a standard for other sectors.
Tooting Market in South London now takes Bitcoin! At this ancient market, eight retailers are combining innovation and tradition by allowing consumers to pay with Bitcoin. #Tooting Market #Adoption #Bitcoin #BTC
Ox HaK June 19, 2024 (@oxhak)
This action might encourage widespread acceptance of Bitcoin throughout the nation.
Since vendors at the market have already begun to accept Bitcoin payments, Nicholas Gregory, lead at Mercury Layer & Civkit, emphasised the potential impact this development has on the adoption of Bitcoin in the nation and area.
Gregory clarified, “Local initiatives like this are good for Bitcoin.” He continued, saying:
“The more traders accept Bitcoin, the more we can push the state to recognise it as a legitimate form of payment, making it easier to use from a tax efficiency perspective.”
The UK’s first food market was founded in 1930 and was called Tooting Market. The market has won numerous accolades, including the Great British Market Awards’ 2017 Best Small Indoor Market title see also: Scale AI Selects London for First Global Expansion
Additionally, it was included in Lonely Planet’s “Top Lesser-Known Neighbourhoods in the UK’s adoption of bitcoin may reach a major turning point with this latest endeavour, as local traders see the ease of use and “permissionless nature of Lightning payments as a solution to banking challenges faced by cash-based businesses.”
Source : Cryptopolitan