Another win for the longevity of Bitcoin.
It's nice to see Bitcoin being used in other countries, perhaps even more sophisticatedly. Honestly we are only scratching the surface for Bitcoin and the Japanese, with their advanced arcade machines, pachinko balls and rare vending contraptions, will probably invent a few new uses for cryptocurrency.
I can totally see arcades adopting one unified cryptocurrency that can link to mobile. That would be so dope.
Topic: Major Japanese Ticket Exchange Marketplace Now Accepts Bitcoin (Read 339 times)
Glad to see Bitcoin being a payment method in another vendor.
Looking forward to travel in Japan and spend Bitcoin in retail stores.
Looking forward to travel in Japan and spend Bitcoin in retail stores.
Bitcoin is king of cryptocurrency, and Japan is king of Bitcoin. When Japan is outranking the USA in terms of investment in Bitcoin you know they are way ahead of the game. Makes me think Satoshi is Japanese after all. 
Yes, I'm happy with this because proven bitcoin transactions are easier, cheaper and more efficient than cash or credit cards. 
Bitcoin is king of cryptocurrency, and Japan is king of Bitcoin. When Japan is outranking the USA in terms of investment in Bitcoin you know they are way ahead of the game. Makes me think Satoshi is Japanese after all.
Major Japanese customer-to-customer ticket exchange marketplace, Ticket Camp, has announced that it is already accepting the digital currency Bitcoin as a form of payment.
The move is a major boost to the cryptocurrency as the exchange has about five million users across the country.
According to the company, the digital currency exchange Coincheck will handle all the transactions made in Bitcoin.
First in the industry
With its acceptance of Bitcoin, Ticket Camp became the first member of the ticket industry in Japan to adopt the virtual currency and use it in its transactions.
Because the digital currency was already approved by the Japanese government as a form of payment and Ticket Camp is a web-based oriented platform, this move could become very beneficial in the long-term.
Bitcoin, however, will not be used to replace the conventional payment methods currently being used at the ticket exchange marketplace.
Issues on the adoption of Bitcoin
Despite its great potentials, several possible problems could be experienced by the company in using Bitcoin as a form of payment.
One of the issues is how the company will collect its 13 percent fee for every sale transaction.
The fee is evenly split between the seller and the buyer, and it is still uncertain if the firm will keep their cut in Bitcoin or convert it to fiat currency immediately.
Another issue is whether the use of Bitcoin will effectively eliminate the sale of fake tickets.
This problem has already been plaguing the country’s ticket industry for a long time and stopping it has been proven to be very difficult, if not nearly impossible.
Although Ticket Camp utilizes an escrow system to hold payments until the tickets properly reach their buyers, this was not effective in dealing with fake tickets.
The move is a major boost to the cryptocurrency as the exchange has about five million users across the country.
According to the company, the digital currency exchange Coincheck will handle all the transactions made in Bitcoin.
First in the industry
With its acceptance of Bitcoin, Ticket Camp became the first member of the ticket industry in Japan to adopt the virtual currency and use it in its transactions.
Because the digital currency was already approved by the Japanese government as a form of payment and Ticket Camp is a web-based oriented platform, this move could become very beneficial in the long-term.
Bitcoin, however, will not be used to replace the conventional payment methods currently being used at the ticket exchange marketplace.
Issues on the adoption of Bitcoin
Despite its great potentials, several possible problems could be experienced by the company in using Bitcoin as a form of payment.
One of the issues is how the company will collect its 13 percent fee for every sale transaction.
The fee is evenly split between the seller and the buyer, and it is still uncertain if the firm will keep their cut in Bitcoin or convert it to fiat currency immediately.
Another issue is whether the use of Bitcoin will effectively eliminate the sale of fake tickets.
This problem has already been plaguing the country’s ticket industry for a long time and stopping it has been proven to be very difficult, if not nearly impossible.
Although Ticket Camp utilizes an escrow system to hold payments until the tickets properly reach their buyers, this was not effective in dealing with fake tickets.
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