IKEA Accepts Ethereum tech! - page 2.

o48o

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Quote from: kryptqnick on October 02, 2019, 11:03:45 AM

Quote from: GMoore87 on October 02, 2019, 10:07:07 AM

IKEA just allowed an invoice to be paid via the Ethereum blockchain
https://thenextweb.com/hardfork/2019/10/02/ikea-iceland-smart-contracts-ethereum-tradeshift-monerium-invoice-nordic-store/

The article is actually a bit confusing. There was some sort of transaction involving IKEA and Ethereum. The transaction was with another company, not some random customer, though, so they might have not gone into trouble just for people. And then yes, now I got how it happened. It was a transaction that could not have happened in a different country. It was allowed because of Iceland's fiat currency being available as e-money and because it's allowed to exchange some types of digital money for others. So basically, until you have your national crypto-currency that represents your country's fiat, you probably cannot use Ethereum to pay for products you buy in IKEA.

But just the fact that they are issuing digital fiat and using smart contracts with them can be a big thing for eth if it catches on.
Eth wasn't never meant to be just money to use but to use it as the platform like for this for example.

Quote from: The original article

IKEA‘s foray into Ethereum is possible due to a landmark regulatory decision that allows Monerium to issue digital fiat for use within the European Economic Area.

<- This was the big news to me on this article.

Godstrength

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Not really shocked and I'm expecting more enterprises to start accepting crypto as a form of payment moving forward. This may not impact the price of Eth to go up but this is a big win for the crypto community as a whole.

Wide acceptance of crypto as what we really needed to get mass adoption, Governments like Venezuela will soon be able to accept crypto payments, getting better/easier access tokens through IEO alternatives without having limitations to get in, establishments accepting btc as payment, and things like what IKEA did is truly a pleasure to see. Blockchain and crypto is the future and major key players in the space are definitely starting to realize it now.

shinratensei_

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Quote from: boltz on October 02, 2019, 07:27:00 PM

If this is for real its a step up for both Ikea and Ethereum but I'm doubt this could impact Ethereum price to higher prices. Most of the times when big partnerships like this are announced, the prices slips down a bit so we might see Ethereum going down for a while but in the long run, I'm sure it will impact the price in a positive way. We can all hope to a new altcoin bull run in order to go and shop at Ikea with our Ethereum maybe even re-decorate our house who knows.
Also lets hope this won't be a make a puzzle deal when they won't give any details to customers on how to buy things with Ethereum as that will sounds like pure Ikea marketing haha.

Have you ever read it carefully?
Ikea used monerium startup's service to issue its digital coin that backed by fiat consider monerium is the only party that has acquired official license to issue a fiat the digital form just like a crypto stable coin.
This news gives nothing to the ethereum's price and you must not expect a lot from this news.
This just like issuing a token but it will be already issued by a party that fully registered and licensed to operate in european economic area (EU economic territory).

Read more about that
https://www.businesswire.com/news/home/20191001005437/en/Tradeshift-Frontiers-Monerium-Settle-World%E2%80%99s-Invoice-Smart
https://www.coindesk.com/icelandic-regulators-approve-startups-plan-for-fiat-payments-on-ethereum

Strongkored

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I'm a little bit confused with this article, hopefully what I catch from this articles is not wrong. They do not accept ETH as a payment method at IKEA especially in Iceland but they use ETH technology for their payment or can say use smart contract, which they built e-money on the ETH network.

clownSQL

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Hands to the sky.

Definitely a good start!

Even if they slowly push to allowing only certain companies to start, it'll maybe snowball into full acceptance for all customers.

boltz

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If this is for real its a step up for both Ikea and Ethereum but I'm doubt this could impact Ethereum price to higher prices. Most of the times when big partnerships like this are announced, the prices slips down a bit so we might see Ethereum going down for a while but in the long run, I'm sure it will impact the price in a positive way. We can all hope to a new altcoin bull run in order to go and shop at Ikea with our Ethereum maybe even re-decorate our house who knows.
Also lets hope this won't be a make a puzzle deal when they won't give any details to customers on how to buy things with Ethereum as that will sounds like pure Ikea marketing haha.

lab rat hoax

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This is good news but i don't think it will affect the price of ethereum. But I'm happy with the news, rather than the price impact, because it's so gratifying to see that crypto coins are used in daily life. I hope this kind of practice becomes more common and cryptocurrency will soon become a part of our lives.

kryptqnick

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Quote from: GMoore87 on October 02, 2019, 10:07:07 AM

IKEA just allowed an invoice to be paid via the Ethereum blockchain
https://thenextweb.com/hardfork/2019/10/02/ikea-iceland-smart-contracts-ethereum-tradeshift-monerium-invoice-nordic-store/

The article is actually a bit confusing. There was some sort of transaction involving IKEA and Ethereum. The transaction was with another company, not some random customer, though, so they might have not gone into trouble just for people. And then yes, now I got how it happened. It was a transaction that could not have happened in a different country. It was allowed because of Iceland's fiat currency being available as e-money and because it's allowed to exchange some types of digital money for others. So basically, until you have your national crypto-currency that represents your country's fiat, you probably cannot use Ethereum to pay for products you buy in IKEA.

GMoore87

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Quote

If IKEA spreads it all over the world, it's good for the ethereum

Just for the start, it's optimistic.

edutBTC

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I think there's a service like that in only Iceland. Scandinavian countries are very innovative about this blockchain and crypto coins. If IKEA spreads it all over the world, it's good for the ethereum. However, ethereum 2.0 needs to be activated. I don't think ethereum can handle this responsibility at the current tx speed.

hotmom

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Why not? IKEA is a company with modern views

GMoore87

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IKEA just allowed an invoice to be paid via the Ethereum blockchain
https://thenextweb.com/hardfork/2019/10/02/ikea-iceland-smart-contracts-ethereum-tradeshift-monerium-invoice-nordic-store/

Topic: IKEA Accepts Ethereum tech! - page 2. (Read 336 times)