Now we will get to see blockchain-backed cash registers in Venezuela. As per sources, Venezuela’s largest department store will launch this in its forty-nine retail outlets in the country. The news was announced by the department store’s operator- Traki. Further, these blockchain-backed cash registers will integrate Pundi X’s PoS (Point of Sale) device called- XPOS. This will enable a feature of paying in cryptos.
As of now, Pundi X’s device is successfully working in around thirty countries. The company is targeting to push its reach with the sale of 100,000 XPOS devices in the next two years. The basic vision is to encourage the crypto adoption so much that it becomes a natural part of everyday life activities. This aim, as per the company’s vision, will be accomplished with financial products such as- ‘XPASS crypto debit cards and Xwallet.’ On this, the CEO of Pundi X- Zac Cheah elaborated on the vision behind the creation of XPOS is to develop ‘real-life use cases.’ He further added-
We made the XPOS with the mission of creating real-life use cases for blockchain technology, and this could not be better represented than Traki shoppers paying for their daily needs with cryptocurrency.
He further added that Traki had adopted the blockchain technology in Venezuela at a much earlier stage. On the other hand, the Chief of Crypto Assets department of Traki- Michael Gomez explained that Traki aims to offer the most user-friendly options to its users. Given crypto has been an excellent source of payment solution; therefore, it is a natural choice for this project. If we look at the statistics, there are around 300K users of the Pundi’s wallet. One-tenth of these wallet users come from Venezuela. This makes the positioning of the blockchain-backed cash registers in Venezuela, very promising.
Talking of blockchain-backed cash registers in Venezuela, the XPOS payment system will offer its users a method of payment that will support many cryptocurrencies, which will include- Bitcoin (BTC), Ethereum (ETH), Binance’s BNB stablecoin, and Pundi X’s native crypto token NPXS, as well as NPXSXEM tokens.
The recent high tide in inflation and the dip in the liquidity of the market have pushed many of the Venezuelans to embrace crypto as ‘store of value and payment option.’ The country’s government, after releasing Petro last year, has been working towards mass adoption of the crypt in recent times. For instance, earlier this month, the crypto especially attracted a lot of attention in South America. The citizens of Argentina opted to pay premium costs for cryptos, whereas in Venezuela, there were crypto prizes offered in the national lottery.
A few months ago, the CEO of Quantfury- Gregory Kim expressed how Venezuela can benefit from the high speed of transaction of Quantfurians for the country. He said so at the occasion when Quantfury announced support for Dash. This announcement revealed about a good variety of crypto trading options for the users which included- Bitcoin, Ethereum, EOS, Litecoin, IOTA, NEO, Monero, XRP, Ethereum Classic, and Zcash, as well as fiat currencies such as USD, EUR, GBP, CAD, JPY, AUD, NZD, and CHF. He further added-
In the world of trading and investing, speed and timing of deploying your assets is critical. The addition of Dash with its rapid transaction speed is a great advantage for Quantfurians, especially those in Latin America countries such as Venezuela.