Automatic Updating Bitcoin Price Tag Shown in East London
Saw something you want to buy at a store, and wondering how to buy it with bitcoins? BitTag has the solution. A new innovative technology that automatically changes the value on a tag display has been created by Samuel Cox. Connected to the internet, BitTag checks the current value of Bitcoin and changes the price tag according to it once very minute.
Samuel Cox is hoping that BitTag will allow shops to accept the digital currency regardless of its volatility. With the automatic changing price tag, Bitcoin users can actually buy things in person instead of online. People worry about adapting Bitcoin because its price has changed quite a lot in the previous months. BitTag makes things easier for store owners to start accepting the digital currency.
“Bitcoin is becoming more popular, but there’s a lack of infrastructure for people to buy things in the physical world because the value changes all the time,”
said Samuel Cox.
How Does the Bitcoin Price Tag Work?
Costing around £40, the prototype BitTag shows the Bitcoin price as well as the local currency price. They were on display at BoxPark, a Shoreditch shopping center. The device is able to see the current value of Bitcoin by connecting to a tablet through Bluetooth, and after doing this it changes the price tag display. With this, the shopper can buy the item with Bitcoin.
BitTag’s website explains how to use the self-updating price tag:
“Bitcoin transaction can be activated by a simple ‘shake’ of the BitTag, enabling a Bitcoin QR code to be displayed on the display and scanned by the user’s smartphone.”
Since the price of BitTag is much higher than a regular price tag, Samuel Cox has said that BitTag would probably appeal more to “quirky” shops than large ones.
We wonder if this innovative Bitcoin price tag will be adopted by others around the world.
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