Over 2.000 vending machines in Australia and New Zealand will allow customers to purchase a Coca Cola with bitcoin.
Purchase a Coca-Cola with Bitcoins
Coca-Cola Amatil, one of the largest ready-to-drink soft drink bottlers in the Asia-Pacific region and one of the top five Coca-Cola bottlers in the world, has partnered with the Centrapay digital asset platform to integrate bitcoin as an option. of payment for its vending machines in Australia and New Zealand.
This means that over 2.000 vending machines now accept cryptocurrency. The machines that perform the bitcoin transactions are owned by Coca-Cola Amatil, and the Atlanta-based soft drinks manufacturer is an important shareholder of the distributor.
The two companies are separate. Transactions are conducted through New Zealand-based Centrapay and Sylo Smart Wallet, which currently has approximately 250.000 users. Newcomers can download the Sylo app on their smartphone, add bitcoins to their wallets and scan a QR code to purchase Amatil products.
Dorian Johannink, co-founder and corporate director of Sylo, said that the digital wallet can typically store, send and receive cryptocurrencies including ERC20 compatible bitcoins and tokens such as its SYLO listed on the Hong Kong exchange KuCoin.
A broad perspective
Buying a Coca Cola with bitcoin looks appealing, but the cryptocurrency has a notoriously limited scalability, processing an average of 1 megabyte transactions every 10 minutes, after which bitcoin miners prioritize transactions with higher commissions.
But Sylo's main focus is not on bitcoin as a form of payment, but on the vision that connects cryptocurrency to the real world and therefore the process to implement digital resources as payment instruments in a broad sense.
Centrapay announced the partnership on Twitter earlier this month, echoing Sylo. The future, as predicted by Sylo, will allow customers to purchase a digital asset in the real world, perhaps a Coke token, and use it to purchase products.
Sylo has grown rapidly in recent months, moving from adding bitcoins to its wallet in March and listing its tokens on KuCoin, to a real-world business with crypto transactions.
According to Centrapay CEO Jerome Faury, the initiative has already shown that it can work in Australia and New Zealand and "will subsequently target the United States market with some innovations".
Johannink said Faury has already established connections in the United States and there are plans to move the project quickly, but the regional partnership is still in its early stages. Sylo is determined. "Let's see how this initial phase goes," said Johannink. “People are testing it now. If it goes smoothly, we can implement it fairly quickly. "
At the time of this writing, the Coca Cola shares (KO) are listed $ 43,67 on the NYSE market, with a weekly performance of -5,13%
