South Africa’s cryptocurrency revolution has taken to the streets in Sandton, Fourways and Centurion, or to upmarket coffee shops and filtered water specialists to be precise.
Crypto may be the digitized high-tech asset with the power to transform global financial and investment transactions, but everyday adoption in South Africa is being led by community-based entrepreneurs and early crypto adopters who buy their lattes, frappés or bottled water through a revolutionary digital payment system.
The infrastructure has been introduced Pundi X, a global leader in this field, and local partner, DoshEx.
Initial roll-out covers Johannesburg’s northern suburbs (at ThirdSpace coffee shops and co-work spaces in Sandton and Fourways) and in Centurion (at the Filter Shop).
Two crypto payment methods are available:
- The XWallet, a digital asset app developed by Pundi X Labs, creators of XPOS, a proprietary system of blockchain-based point-of-sale devices currently being introduced to several global markets.
- The DoshEx Digital Assets Pass or XPass, a secure card marketed by DoshEx, a South African innovator known for developing smart contracts and customized digital asset solutions based on tamper-proof blockchain technology.
Crypto-enabled retailers help customers register on the system and load cryptocurrency (four options are available).
Payment is easy. Once your product is rung up on the XPOS, you simply tap your XPASS on the device or display a QR code from the XWallet to be scanned by the XPOS and walk away.
The cards that drive the system cost R100. Installation of the system at a retailer’s premises is just as easy and demand goes up all the time.
DoshEx CEO Alex de Bruyn added: “Crypto acceptance in the retail sector is absolutely vital as digitized systems embed themselves in the economy. Well-informed corporate executives are keen to explore digitized solutions for added peace of mind across all transacting parties. Now we are witnessing growing take-up at retail level, with the ordinary consumer giving a lead.
“It’s hugely encouraging to see the crypto revolution gaining support like this. Crypto is being demystified one espresso at a time and with every sip of expertly filtered water.”