Focused on the adoption of Bitcoin as cash and having in mind that the only version that is applicable for this reason is Bitcoin Cash, we have embarked on a quest to explain and promote Bitcoin Cash adoption in the business world. Shop owners and any kind of merchants are onboarding every day, and campaigns are running to increase the adoption of Bitcoin Cash for its utility in everyday transactions.
In previous articles I explored the adoption levels in various locations where Bitcoin Cash thrives:
Caracas, Venezuela - A Bitcoin Cash Capital City - Bitcoincash.site
Townsville, North Queensland, Australia - A Bitcoin Cash City
From the East Coast to the West Coast - Bitcoin Cash Merchant Adoption in the USA
One of the finest examples of cryptocurrency adoption and especially for Bitcoin Cash is the European country of Slovenia. A country with a population of 2 million located at the heart of Europe it is one of the countries where Bitcoin Cash is accepted in shops and merchants as nowhere else in the world.
There is some confusion about a city mall in the capital of Slovenia, Ljubljana. The mall has the name "BTC - City" but this has absolutely nothing to do with Bitcoin for the name is the initials of: "Blagovno Transportni Center". It is not named after Bitcoin or BTC as some videos and publications led us to believe for many years. But because of the high levels of adoption in Slovenia, many shops inside this mall were accepting Bitcoin, at least until recently, as nobody will be paying $60 fees.
Now, without further ado let's take a look at the Bitcoin.com map of merchants for the country of Slovenia:
This is explosive growth for Bitcoin Cash, right at the heart of Europe. And adoption is also increasing rapidly in neighboring countries like Croatia.
Ljubljana - A Bitcoin Cash City
Ljubljana, the capital of Slovenia, is one of the cities that have embraced Bitcoin Cash and there are over 500 shops at a physical location where we can spend our Bitcoin Cash.
Slovenia leaves fiat behind and adopts Bitcoin as Cash. As BTC is an inadequate payment system, due to its lack of scalability and high fees, merchants turn to the more advanced version of Bitcoin, Bitcoin Cash.
Most of these merchants have joined the crypto revolution through GoCrypto, an app created by Slovenian blockchain company "Eligma".
GoCrypto is a payments facilitator that helps merchants accept cryptocurrency payments and receive fiat currency. The advantage of using GoCrypto for merchants is that they won't have to deal with Crypto volatility by accepting Bitcoin Cash directly.
While I am mostly interested in P2P transactions and the point of cryptocurrency is to exclude the middle man from the payments system, I think it is still early before this kind of acceptance for Bitcoin reaches higher grounds.
For the time being, GoCrypto is an excellent solution for merchants that are worried about crypto volatility and would prefer to instantly liquidate in fiat any crypto payments they receive.
Of course, there is a prerequisite for merchants to think this way. The fact that the fiat currency backed by the government won't fail. Inflation concerns may create more volatility in fiat prices than expected.
We already have the examples of Venezuela, Zimbabwe, Turkey, and Lebanon with the Central Bank issued national currencies having failed and depreciating extremely fast.
Inflation is rising at an extreme rate in these countries and the wealth stored in banks is being evaporated. With the recent Covid restrictions and the shutdown of macroeconomic progress for more than one year, it is expected that inflation will rise at faster rates, and depreciation of fiat will increase.
Lead Image by: Greenvalley Pictures on Unsplash (free download)
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