It’s Oct 31st and I’m out on the streets of Singapore with some friends. After a busy day working at the aelf offices, it is now time to relax and have some dinner. As we stand in Chinatown absorbing all the sights and sounds, our noses decide to take control of the situation.
While deliberating our options, one of our friends starts walking off as if hypnotized. We all follow half in wonder and half in humour to see where he leads us. But it’s not him leading, but his nose. Soon we all catch the succulent smells of cooking meat and are unitedly lead to a nearby restaurant. The decision was simple, fast and unanimous, this is where we shall have dinner.
Normally we would then spend the next 20 minutes discussing how we would pay, if we had enough cash on us, and looking all over for the foreboding sign saying bill splitting is not allowed. But this time, we needed no such approach; we simply sat down and ordered.
This day was the start of the ‘Token Day’ launch which runs in Singapore until the 18th of Nov, 2018. As a tribute to the 10th Anniversary of Bitcoin’s whitepaper release, Bitkey has organized a special event called tokenday. This event had two phases, the first phase was the coin selection in which the public community voted for their favourite coins.
Although aelf has a vibrant and widespread community, it was quite an impressive result as we finished in fourth place out of 30 coins. Once the coins were selected, phase 2 is set up, which is the use of these coins by dozens of retailers as accepted payment methods for merchandise.
At the restaurant, my friends and I had reached as our destination was one such retailer, and as such, payment could not have been easier. It didn’t matter if they split bills or not as transfers between us take only a few seconds to complete. It didn’t matter if we didn’t bring any cash since well… since they accepted ELF!
Now, there was one thing that I hadn’t mentioned yet, I’m not a local to Singapore! I was only visiting and my local currency is completely different to the Singapore dollar (SGD), but again, this was of no affect to me since I could pay in ELF. ELF doesn’t care what country you are in, or what country you are from. It will always work, it will always be fast, and will be worth the same amount.
This is the first time ELF has been accepted by a network of merchants and has given both merchants and consumers a taste of the cryptocurrency world and a first-hand demonstration of the ease of use for ELF. These small steps are a great way to building user confidence in cryptocurrencies and feel more comfortable replacing existing payment methods.
Now imagine this happening all over the world and you can start to sense the change in sentiment towards the use of cryptocurrencies by consumers. And on the other end of the spectrum we are constantly hearing about more and more enterprises developing their own use cases or joining in partnerships with existing blockchain related organisations. Is mass blockchain adoption just around the corner?
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