Hive Blockchain Community Brings Crypto Payments to Local Bar
In a recent episode of the Community Token Talk Podcast, hosts TheyCallMeDan and Starkerz shared their experience of rolling out HBD (Hive Backed Dollar) payments at a local bar in Rosarito, Mexico. This innovative initiative aimed to introduce cryptocurrency-based transactions to the community in a real-world setting.
Preparing for the Event
To make the event a success, the hosts had to take several preparatory steps. First, they approached the management of the Aqua Bar and gained their confidence in the new payment system. They then pre-funded the bar with $200 to ensure the bar owner felt secure and could not be concerned about any potential issues with the "fake internet money."
The hosts also set up pre-created Hive accounts, each with $20 worth of HBD, for the participants to use. They trained the bar staff on how to use the V4V (Value for Value) app, which served as the point-of-sale system for the HBD transactions.
The Event in Action
The video footage showcased the process of customers using the Hive Keychain app to scan the V4V QR code and make payments for their drinks. The hosts noted that the integration of Hive Keychain was not entirely seamless, as there were some delays in updating the account balances and a few technical glitches.
However, the hosts highlighted the key benefits of the HBD payment system, including its non-custodial nature, instant transactions, and zero fees - features that traditional stablecoins cannot match. They also emphasized the ability to earn HBD directly from the Hive blockchain through content creation, rather than having to purchase it on a centralized exchange.
Lessons Learned and Future Improvements
The hosts acknowledged that the event required significant effort, from coordinating with the bar management to training the staff and addressing technical challenges. They recognized that the onboarding process for new users was not as smooth as it could be, and they are working on improving it.
The hosts mentioned that future iterations of this event will be much more streamlined, thanks to upcoming updates to the Hive Keychain app and the development of a new onboarding system. This will allow for a more seamless experience, where users can simply scan a QR code to create an account and start using HBD for their purchases.
Overall, the Community Token Talk Podcast episode provided valuable insights into the real-world application of cryptocurrency payments and the ongoing efforts to make the Hive ecosystem more user-friendly and accessible to the broader community.