The usage of cryptocurrency is gradually slipping into the entertainment industry worldwide. Thailand’s largest operator of movie theatres, Major Cineplex Group, is all set to integrate crypto payments to give the customers an opportunity to pay for the services with cryptocurrency.
Once the project is accomplished, Major Cineplex Group will become Thailand’s first movie theatre operator to accept cryptocurrency payments from its audiences. The Bangkok-based entertainment company has conglomerated with Switzerland-based blockchain service provider RapidzPay to create a digital payment ecosystem in Thailand.
As a leading brand in movie theatre operation, Major Cineplex wants to tune with the current trends and introduce the latest technology to offer the best entertainment services to its customers. These days, acceptance of cryptocurrency payment with the introduction of blockchain technology is the latest trend in the entertainment industry alongside other sectors. Recently, Australian cinema-on-demand service provider, Demand Film launched a new cryptocurrency named Screencreds to reward the users with incentives for watching and promoting trailers, The Hollywood Reporter confirmed last month.
Major Cineplex announced that it would make everything ready to commence cryptocurrency payments by the end of 2018. The audience will not only be allowed to buy movie tickets, they can also make the payments with cryptocurrency for other products like popcorn, soft drinks and snacks at its outlets, reports Bitcoin News. However, the group, which runs 490 screens around Thailand, is yet to announce which cryptocurrencies will be accepted.
The introduction of Cryptocurrency Act by Thailand’s Securities and Exchange Commission in July this year has opened a new door for the companies to trade in digital or virtual currency. The Act mainly allows the traders trading in seven varied cryptocurrencies – Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple and Stellar.
The customers in Thailand need to utilize the government-approved online payment service “RapidzPay” to make the payment in cryptocurrency. The Swiss organization uses highly scalable blockchain technology and a decentralized model to cater to the local and global e-commerce podiums.
The post Thailand’s Renowned Movie Theatre Chain Major Cineplex Is Ready To Accept Cryptocurrency appeared first on OWLT Market.
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