Soon you will be able to use Ethereum to pay drinks at Singapore-based night club Skyline

Anisa Menur
Soon you will be able to use Ethereum to pay drinks at Singapore-based night club Skyline

Skyline aims to be the first night club in Singapore to use cryptocurrency as a payment method, starting from the Blockshow Asia event in November 29-20

Singapore-based night club Skyline announced today that it will enable the use of Ethereum as a payment method for food and drinks.

The result of a collaboration between the night club and cryptocurrency platform COSS, visitors will be able to use their Jaxx and Ethereum Free wallets to pay bills through the COSS POS System.

The feature will be available during the official after party of the Blockshow Asia event at the night club on November 29-30.

“We hope to expand this two-day trial of Ethereum acceptance as payment for drinks and food into a daily acceptance of multiple crypto currencies,” said Skyline operator Subaish Rajamanickam in a press statement, where the company also dubbed cryptocurrency as “the future of money.”

The night club aims to be the first in the country to implements such system.

Also Read: Malaysia’s central bank says it has no plans to appoint cryptocurrency exchange

Singapore has always been perceived as a hotbed for cryptocurrency startups.

The country has been stepping up efforts to go cashless. Cryptocurrency, together with smart contract and IoT, plays a crucial role in the transition process towards a cashless society.

Though the Monetary Authority of Singapore (MAS) has not made any conclusive policy yet on the matter, the government plans to conclude its cryptocurrency trial (“Project Ubin”) in 2018, according to a CNBC report. Local banks such as UOB, DBS, and OCBC are participating in the development of the proof-of-concept for the trial.

The country already has cryptocurrency exchanges running, such as Coinhako and FYB-SG.

Kryptos-X, an Australian cryptocurrency exchange has announced plans to launch in the Singapore market following a US$1 million seed funding round by Fatfish Internet Group.

Image Credit: Skyline

The post Soon you will be able to use Ethereum to pay drinks at Singapore-based night club Skyline appeared first on e27.