A COIN taking you to any places – Budapest

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Virtual … Digital Currency.

Budapest Taxi held a joint press call with the CoinPay Inc., where the StarUp – Deputy CEO András Lőwy – CoinPay Inc., the COinPAY Developer, and the taxi  managing director of the company Csaba Horváth  announced the following:

The Budapest Taxi in Hungary is to be the first to introduce the CoinPay system allowing quick and secure within the system on coin-based payment.

If the purchaser has Bitcoin , and has a cell phone, he/she can use any service, for example …arriving in the cab to the destination can choose to accept their Bitcoin  wallet in the amount to want to pay for their transportation as a unique identifier, and Scan the QR code. Passengers in taxis, paying for the service with Bitcoin will come in practise from February in Budapest, said the StarUp – Deputy CEO András Lőwy – CoinPay Inc. also added, the Bitcoin’s global accessibility is one of its most important features. The taxi drivers will onwards accept Bitcoin for payment, and to use Bitcoin  does not require divulging any personal identification information to the drivers. For this reason, no criminal can get into your Bitcoin account and spend your money by simply hacking the servers of a company that you performed a transaction with.

The ATM can be directly inserted into paper money, and converted to digital cash, the device screen projected by scanning a QR code can be loaded into the electronic currency Bitcoin  wallet, a mobile phone, from where it purchases the amount to be paid.

So already in the 21st century, there are approximately 5 billion adults in the world, over 85% have mobile phones. Even the most basic of mobile phones give access to a global network of communication. Keeping that in mind, Bitcoin  makes sense for a more global form of money to exist. Bitcoin is exactly a universal, internet currency that can work on any computer or mobile phone. It does not require a credit card, bank account or the divulging of any personal identification to use or acquire. The catch is that you’re not using any government-backed fiat currency in this system, by in use of the new currency the Bitcoin  which is similar to a cash transaction for a company, that has two main advantages. First, the merchant does not have to pay a credit card company a certain % fee each time they swipe a card. Instead the cost for each merchant to accept Bitcoin and convert it to fiat is on average less than 1%, a service provided by payment processors.

Anyone with a mobile phone on this network can financially transact without the use of cash, credit cards or a bank account by simply using the SMS feature to securely send and receive monetary balances.So just with a mobile phone any two parties can now transact without a central authority, company or bank mediating the transaction and in such a way that is safe and secure, publicly known, and incontestable.

Since the debut of the CoinPay system already had joined restaurants, dentistry and tourism providers.

For those interested  … Previous Herald News: Bitcoin ATM changer was placed in operation in Budapest/Hungary in the year 2014. https://rollinginbudapest.com/2014/08/28/budapest-hungary-gets-its-first-bitcoin-atm-at-the-anker-club/)

Updated and snaps Aggie Reiter

2 responses to this post.

  1. Posted by Chris on 11/02/2016 at 01:21

    What’s next I wonder !!!!!……….Fascinating report……Thanks…Chris

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