Ukrainian pharmacy chain introduces cryptocurrency payments

lassdas

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Quote from: stompix on January 05, 2023, 10:18:36 AM

Quote

To take advantage of the service, customers will have to download and install the Binance app, go to the ANC website, place an order and cover the bill using Binance Pay. Then they can receive the products or pick them up at any of the chain’s stores.

It's also quite expected, I don't think a company in a war zone would be able alone to deal with direct crypto payments, so thinking of paying directly with bitcoin is probably daydreaming, but still, it's Binance, and I have a feeling they will again put their fake bitcoin and stable coins on top of the bitcoin payment option.

Is that how Binance Pay works?
Never used Binance myself so I've no idea.

I get why businesses and charities often prefer to use payment providers instead of "being their own bank",
but it's the first time I hear something about the need to download and install an app from a specific payment provider to pay them.
There's no need to install f.e. a bitpay-app, or coinbase-app to pay some merchants, or donate to NGOs who are using bitpay or coinbase.

Nwada001

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Quote from: GreatArkansas on January 16, 2023, 06:53:31 PM

This sucks. If they will just be strict to use Binance Pay, accepting cryptocurrency seems useless because they are centralized. Maybe if they have some option, the better. Like using a lightning network if they are worried about the transaction fee or speed.
I think they have a reason why they are using Binance Pay, still sucks for me.

I believe the country and it's citizens Started accepting crypto and Binance in particular not for the shake of promoting crypto only or because of the love they have for crypto but because they want to render the small support that they can to appreciate the 10M$ Binance donated to them during the war.

klidex

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Quote from: 8rch7 on January 16, 2023, 07:18:52 PM

Quote from: klidex on January 16, 2023, 01:01:33 PM

Quote from: bittraffic on January 05, 2023, 10:57:24 AM

Ukraine is not as well known to have tons of crypto users so why is Ukraine pharms trying to adopt Binance Pay? And they are not actually accepting crypto but fiat if they use Binance Pay.

They are helping Binance to make it a global monopoly. CZ is not a very clever person also, he sure would be keeping the KYC very tight with Binance Pay.

Where do you get information and can say that Ukraine does not have many crypto users.
If you have been in the cryptocurrency industry for a long time, surely you already know that everyone who uses or uses crypto will always hide their data, even the identity of the country or place where they live.
We don't know what's really going on in Ukraine and we don't know for sure at the moment how many crypto users there are, so I think going forward we have to be more selective in giving each response.

Ukrainian pharmacy chain introduced crypto payments via binance pay I think this is a very wise step, right as you said we can't detect people using crypto currency, not to detect people from other countries using crypto currency to detect friends alone is difficult, because people who are already involved in bitcoin are sure to hide their identities, because they follow directions from the founder of the cryptocurrency, namely Satoshi.

From what was introduced pharmacies in Ukraine that accepting crypto payments can have a good and positive impact, where more and more people will start using and adopting crypto as a medium of exchange or investment asset in Ukraine.

Therefore, in my previous opinion, I said that we must always be selective in giving a comment or response because we do not know and it is not certain that the response we give is correct. Do not let us just give someone a fake or useless response.

8rch7

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Quote from: klidex on January 16, 2023, 01:01:33 PM

Quote from: bittraffic on January 05, 2023, 10:57:24 AM

Ukraine is not as well known to have tons of crypto users so why is Ukraine pharms trying to adopt Binance Pay? And they are not actually accepting crypto but fiat if they use Binance Pay.

They are helping Binance to make it a global monopoly. CZ is not a very clever person also, he sure would be keeping the KYC very tight with Binance Pay.

Where do you get information and can say that Ukraine does not have many crypto users.
If you have been in the cryptocurrency industry for a long time, surely you already know that everyone who uses or uses crypto will always hide their data, even the identity of the country or place where they live.
We don't know what's really going on in Ukraine and we don't know for sure at the moment how many crypto users there are, so I think going forward we have to be more selective in giving each response.

Ukrainian pharmacy chain introduced crypto payments via binance pay I think this is a very wise step, right as you said we can't detect people using crypto currency, not to detect people from other countries using crypto currency to detect friends alone is difficult, because people who are already involved in bitcoin are sure to hide their identities, because they follow directions from the founder of the cryptocurrency, namely Satoshi.

GreatArkansas

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Quote from: Nwada001 on January 05, 2023, 09:49:55 AM

According to the statement what they plan to do is to start accepting payment directly using Binance Pay which is another means of promoting the Centralized exchange Binance.
(.....)

This sucks. If they will just be strict to use Binance Pay, accepting cryptocurrency seems useless because they are centralized. Maybe if they have some option, the better. Like using a lightning network if they are worried about the transaction fee or speed.
I think they have a reason why they are using Binance Pay, still sucks for me.

Vaskiy

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Ever since the war the visibility crypto market have got among the Russian and Ukrainian people is very high. Ukranian pharmacy chain starting to accept crypto payment is really a good move, but this couldn't bring more users towards it. Because, Ukranian people have prioritised crypto as an investment than a regular transaction source after more people using it a source to escape war crisis prevailing in the country.

Finestream

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Quote from: kryptqnick on January 05, 2023, 10:16:07 AM

Oh wow, this is pretty big. As a Ukrainian, I can tell you that it's indeed one of the major pharmacies in Ukraine, available widely in various regions (you can see the regions covered and the sheer number of their pharmacies here: https://anc.ua/map). The info on the website of the pharmacy network says that it's via Binance Pay, and currently from online orders (click and collect ones) but they will gradually start accepting crypto payments in the pharmacies as well. I know it's not ideal that it's via a centralized exchange, but I don't think it's because they want to promote it specifically. Rather, it's because Binance is already popular in Ukraine, it is a reputable service, and it's easy to integrate its payment system, I assume, for purchases. It's a good first step, a very good one. And keep in mind that with the war, pharmacies are especially important.

This is another achievement for bitcoin and for Ukraine towards crypto adoption. And I know since it’s a pharmacy, people will surely patronize it knowing pharmacy establishments will always be essential for a country. And knowing Ukraine, it’s a crypto friendly country and that majority of the citizens are already aware on crypto as a mode of payment so it won’t be hard for any establishment to accept crypto or bitcoin in particular as a payment method.

klidex

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Quote from: bittraffic on January 05, 2023, 10:57:24 AM

Ukraine is not as well known to have tons of crypto users so why is Ukraine pharms trying to adopt Binance Pay? And they are not actually accepting crypto but fiat if they use Binance Pay.

They are helping Binance to make it a global monopoly. CZ is not a very clever person also, he sure would be keeping the KYC very tight with Binance Pay.

Where do you get information and can say that Ukraine does not have many crypto users.
If you have been in the cryptocurrency industry for a long time, surely you already know that everyone who uses or uses crypto will always hide their data, even the identity of the country or place where they live.
We don't know what's really going on in Ukraine and we don't know for sure at the moment how many crypto users there are, so I think going forward we have to be more selective in giving each response.

Nwada001

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Quote from: Broadanbig on January 06, 2023, 07:55:12 AM

Am aware of the support Binance gave to Ukraine, am not also against Binance, using Binance to receive crypto since it's a faster means through Binance pay also not a bad idea for business.. where I won't encourage and will always advice people is saving and leaving your crypto holding on centralized exchange be it Binance or any other Exchange... I also receive pay with Binance pay which after confirmation I move out my asset to a secure wallet which I have the key to.

hitsnorth

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That could've been great news if it wasn't about Binance. People have to use a centralized exchange to be able to buy pharmacies, I don't see it as a great thing. There could be different ways to solve it better.

Broadanbig

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Quote from: Nwada001 on January 05, 2023, 09:49:55 AM

According to the statement what they plan to do is to start accepting payment directly using Binance Pay which is another means of promoting the Centralized exchange Binance.
If they truly want to promote the use of crypto and add safety why doing so, they should make an effort by getting a hardware wallet which they can generate a QR code for the receiving address print and paste it around the shop, so that customers can just scan the address and make payment. their is no doubt that Binance Pay will be faster in receiving payment of its also too risky since they don't have the key to the wallet.
"Not Your Key Not your coin"

The idea of using binance as a means of direct payment is no big deal to me as i long foresaw it. Do not forget the role binance played in donating $10,000,000 for the Ukraine government during the much heated Russian / Ukraine war here . I will not argue with the fact that in the future, the Ukraine government would want to repay binance a favour for their kind gesture during their hard time buy donating such amount of money through crypto payment hence they might likely make binance or give the a mouth watery offer to support the organisation in the name of implementing crypto payment in their country.

silbertlee

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Quote from: ?? on ??

I don't know the details but crypto is now a valid currency and not only pharmacies but all other institutions should have multiple payment options.

Quote

It is reported that ANC Pharmacy operates more than 1,000 pharmacies across Ukraine and operates its own online pharmacy service. The pharmacy in Kyiv will initially support the Binance Pay payment service.

This news is exciting. Since the beginning of the war, Ukraine has accepted various digital currencies for war aid. Therefore, in Ukraine, everyone still respects the use of digital currencies as a way to preserve the value of assets. Therefore, various application scenarios will continue to emerge in the future.

Merit.s

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This is good news to see that cryptocurrency is spreading to the ends of the earth and it have also been accepted as am alternative method of payment by the pharmacy chain in Ukraine. It shows that in few years from now crypto acceptance will in so many countries,btc will be more valuable. The pharmacy is making a big mistake to align with Binance for payment, this is a centralized system and can't be trust,I will suggest the pharmacy should use a decentralized system like btc for their payment, if not their funds will get lost someday which might lead to downfall of the pharmacy

mk4

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Quote from: stompix on January 05, 2023, 11:26:49 AM

But what's more worrying is that it's a coin that nearly got wiped out when Luna crashed and even the team behind it has gone silent since June last year Cheesy

, so some bought the shitcoin fo shitcoins based on a failed (terra) network.

There ain't no new GitHub commits since the last 7 months either, so it's not like only the Twitter account has been abandoned.

Funnily enough — say all you want about marketcaps being misleading, but it still has a whopping $11.8m marketcap despite it pretty much being abandoned; and with a $7m trading volume since the last 24 hours on Binance. Unbelievable, to say the least.

Xal0lex

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Quote from: bittraffic on January 05, 2023, 10:57:24 AM

Ukraine is not as well known to have tons of crypto users so why is Ukraine pharms trying to adopt Binance Pay?

What makes you think that there are few cryptocurrency users in Ukraine? Where is this information coming from? I, for example, found other information. For example, here is the information provided by UNCTAD for the year 2021. In the graph you can see that Ukraine is in the first place by the share of population that owns cryptocurrencies. And here you can see the percentage of the population that owns cryptocurrencies as of January 4, 2023.

krishnaverma

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Quote from: stompix on January 05, 2023, 11:26:49 AM

Quote from: mk4 on January 05, 2023, 10:27:33 AM

Funnily enough, a DeFi project on the Terra network named Anchor(with ticker ANC) pumped near the time that Binance's CZ posted this tweet: https://twitter.com/cz_binance/status/1610292474714656770
Probably just a coincidence, but LOL.

No, not a coincidence, some users started using #AMC, bots detected the term and that good things were associated with it so orders started flowing, by the time some misled users tried to buy in already there was a price movement so they just added a little more fire to the hype of FOMO or whatever.
Bots that monitor social platforms or news headlines have been around for a while, so not surprising.

But what's more worrying is that it's a coin that nearly got wiped out when Luna crashed and even the team behind it has gone silent since June last year Cheesy

, so some bought the shitcoin fo shitcoins based on a failed (terra) network.
I just hope that Apple launching some device called iFan won't trigger some buys in one of the largest scams ever.

I discourage this but there are some very smart people making good money following latest trends and news in crypto market.

Xal0lex

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Quote from: Nwada001 on January 05, 2023, 09:49:55 AM

According to the statement what they plan to do is to start accepting payment directly using Binance Pay which is another means of promoting the Centralized exchange Binance.
If they truly want to promote the use of crypto and add safety why doing so, they should make an effort by getting a hardware wallet which they can generate a QR code for the receiving address print and paste it around the shop, so that customers can just scan the address and make payment. their is no doubt that Binance Pay will be faster in receiving payment of its also too risky since they don't have the key to the wallet.
"Not Your Key Not your coin"

I doubt that this chain of pharmacies has a qualified person who understands cryptocurrencies. Why look for and hire another employee to deal with this when there is already a ready-made solution from Binance exchange? I assume that it was their specialists who helped to implement such a function and will monitor the work of this function in the future.

stompix

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Quote from: mk4 on January 05, 2023, 10:27:33 AM

Funnily enough, a DeFi project on the Terra network named Anchor(with ticker ANC) pumped near the time that Binance's CZ posted this tweet: https://twitter.com/cz_binance/status/1610292474714656770
Probably just a coincidence, but LOL.

No, not a coincidence, some users started using #AMC, bots detected the term and that good things were associated with it so orders started flowing, by the time some misled users tried to buy in already there was a price movement so they just added a little more fire to the hype of FOMO or whatever.
Bots that monitor social platforms or news headlines have been around for a while, so not surprising.

But what's more worrying is that it's a coin that nearly got wiped out when Luna crashed and even the team behind it has gone silent since June last year Cheesy

, so some bought the shitcoin fo shitcoins based on a failed (terra) network.
I just hope that Apple launching some device called iFan won't trigger some buys in one of the largest scams ever.

bittraffic

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Ukraine is not as well known to have tons of crypto users so why is Ukraine pharms trying to adopt Binance Pay? And they are not actually accepting crypto but fiat if they use Binance Pay.

They are helping Binance to make it a global monopoly. CZ is not a very clever person also, he sure would be keeping the KYC very tight with Binance Pay.

Z-tight

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I feel we are a long way away from companies like this accepting BTC directly without any third party service, whenever there is news of a big company that is now accepting BTC, it always comes with a separate clause that may not be pleasant to 'real bitcoiners'. The binance pay thingy in the whole story kind of takes the fun out of it, but i think people who already use Binance before now should go on and pay through this way if they want to use a crypto payment option, but they shouldn't forget that Binance is an exchange, and shouldn't be their self custody wallet. But for those who haven't already registered on Binance ever before, i wouldn't advise them to lose their privacy for this.

Quote from: ?? on ??

I don't know the details but crypto is now a valid currency and not only pharmacies but all other institutions should have multiple payment options.

Many crypto's do not have the utility or value to be a currency, they are mostly tools for Gambling. BTC is a valid currency though and the greater mass adoption gets, the more institutions would wanna have it as one of their payment option.

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