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March 18, 2022   Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Metaverse, NFTs, FinTech and Alternative Finance, Fintech International, Fintech Services, Innovation and Resources, Payments, Transfers, Rewards   No comments

QR Code Triggers Instant Crypto Payments and Self-serve Frosty

Cointelegraph | Arnold Kirimi  | Mar 17, 2022

Crypto payment on lightening network - QR Code Triggers Instant Crypto Payments and Self-serve FrostyUsing their Lightning Network-supporting wallets, participants were able to receive their own beer, poured just seconds after completing the transaction by scanning a QR code.

Pubinno, a San Francisco-based technology firm that creates the "Internet of Beer" with artificial intelligence, robotics and cloud computing platforms, has now integrated a Bitcoin (BTC) payment infrastructure into its system.

By using their Lightning Network-supporting wallets, participants could receive their own beer, poured just seconds after scanning a QR code to complete the transaction.

See:  The Most Efficient Payment System In The World: Bitcoin And The Lightning Network

According to Pubinno CEO Can Algul, the Smart Tap system was created in 2016 and employs blockchain technology to link the future of draft beer with the future of transactions. Cointelegraph had a chance to chat with Algul about the Smart Tap system.

Allows bar owners to get paid in seconds with little or no commissions, and with the self-serve capability of the smart tap system, they may save a lot of money on labor costs.

Algul explained how blockchain technology influenced his decision to utilize the Lightning Network for payments, stating that:

"We worked on Lightning Network because it is dependent upon the underlying technology of blockchain. By using real Bitcoin/blockchain transactions and using its native smart-contract scripting language, it is possible to create a secure network of participants, which are able to transact at high volume and high speed with low gas fees."

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NCFA Jan 2018 resize - QR Code Triggers Instant Crypto Payments and Self-serve Frosty The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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