Bitcoin breakthrough: Edmonton coffee house chain accepts cyber-currency
Published Tuesday, July 30, 2013 4:11PM MDT Last Updated Wednesday, July 31, 2013 8:41AM MDT
Edmonton’s Remedy Café has become the first retailer in the province to accept digital currency for its products.
All three locations officially started accepting the digital currency Friday, July 26.
Local Bitcoin enthusiast, Peter Dushenski, was key in setting up the coffee house with the new payment method.
“We’re going to see small businesses lead the charge in this,” he explained.
“This kind of idea is going to spread through personal networks rather than through Starbucks.”
However, Dushenski said the e-currency was simply another option for customers rather than a replacement for the tradition system.
“The point is to have a digital currency that you can use anywhere in the world with very little transaction costs.
“It’s starting to get really big in countries where they are having problems with their currencies and their banking systems,” he added.
Remedy Café owner, Zee Zaidi, said he thinks Bitcoin will be well-used.
“The feedback is very positive.”
He said he recommended other businesses follow suit as the more people hear about Bitcoin the more they are likely to use it, which will be good for business.
“I like to take a challenge,” he smiled.
Dushenski said he felt that Edmonton was an ideal place for the digital currency to grow.
“It’s a grassroots city. It’s an entrepreneurial city. I think that there is a good value alignment with what Bitcoin speaks too.
“As more and more places start to accept Bitcoin I think we’ll see an increase in the value of Bitcoin as well.”
Bitcoin users, and Café customers, said they were pleased with the new payment option.
“It’s just another tool in the toolbox,” Brendan Trayner told CTV News.
“I think Canadian dollars will always be here, as long as Canada is around anyways, but this allows me to – if I want to send money to friends overseas or here in Canada – it allows me to do so really easily.”
Since June, the local Bitcoin community has held several meetups to discuss ways to encourage the growth of the e-currency.
Something Dushenski said will help place Edmonton in line with the rest of the world.
“We’re starting to see it pop up all over the world.
“No matter where you are in the world there’s people buying and selling Bitcoin.”
With files from Laura Lowe