Japanese Consumer Electronics Retailer Accepts Bitcoin

Two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future
29 January 2018   999

Yamada Denki, one of the largest Japanese consumer electronics retailer, has partnered with Bitflyer to trial bitcoin payments starting on January 27. Initially, two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future.

Two directly operated stores have started accepting bitcoin: Yamada Denki Labi Shinjuku east exit pavilion and Concept Labi Tokyo. These locations have many foreign visitors, making them good test locations for the digital currency integration, the company said.

Japanese Consumer Electronics Retailer Accepts Bitcoin
Yamada Denki(LABI) Shinjuku Higashiguchikan, Tokyo, Japan

We will implement initiatives to improve bitcoin recognition and usage promotion.
With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas. We believe that we can provide improved service and convenience.

 

Yamada Denki statement

There is a limit of 300,000 yen (~USD$2,760) for using this payment option. To commemorate the partnership, Bitflyer is giving away 500 yen to the first 500 customers paying with the digital currency using Bitflyer wallet at each store.

Through collaboration with Yamada Denki, we are contributing to improving the convenience of more customers in Japan and overseas.

 

Bitflyer statement

Recently, we have reported that Japanese cryptocurrency trading and exchange platform BitFlyer has acquired the payment license to operate in EU.

VeriBlock to Report on Mainnet Launch

VeriBlock believes their technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”
21 March 2019   79

Using the bitcoin blockchain to ensure the safety of altcoins, the VeriBlock project announced the launch of the main network. This is reported in a press release.

According to the developers, the VeriBlock technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”. The project is confident that this approach not only ensures the security of less popular networks, but also allows their developers to focus on innovation and functionality.

According to analysts of The Block, 25–45% of bitcoin transactions fall on VeriBlock. The VeriBlock network uses a consensus algorithm called Proof-of-Proof (PoP). The project seeks to ensure the safety of other blockchains by loading a snapshot of the altcoin registry into the BTC blockchain, using the OP_RETURN function and other methods to embed network state data.

The project’s website states that PoP allows altcoin networks to use the most protected Bitcoin blockchain with its Proof-of-Work algorithm.