Blockchain payments startup Pundi X recently partnered with Ultra Taiwan 2018 music festival to enable cryptocurrency payments during the event.
Through Pundi X’s point-of-sale (POS) technology, shops present during the festival can be paid for through the festival’s official cryptocurrency: Ultra Coin. Around 30,000 XPASS cards are available to be purchased by festival attendees. Any item—from food to festival merchandise—can be bought using the cryptocurrency.
Pundi X CEO and co-founder Zac Cheah mentioned that he hopes the collaboration will further establish the practicality of using blockchain technology in the real world.
“While we have witnessed the rise of using blockchain technology for transactions in recent years, debate continues about their use for real-world payments. In a little more than two weeks time, these doubts can be laid to rest when 30,000 party goers against the hectic backdrop of this year’s Ultra Taiwan festival pay for drinks, food and merchandise using Pundi X technology,” Cheah said in a recent statement.
Ultra Music Festival is the biggest independent music festival in the world. Its Taiwan show will be celebrating its fifth anniversary this year, and will be held in Da Jia Riverside Park, Taipei, on September 8 and 9.