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Blockchain & Bitcoin Conference Switzerland
9
October2018

Pay with a smart wristband – a new payment technology by Bitcart

Pay with a smart wristband – a new payment technology by Bitcart

Bitcart, the Irish company selling gift certificates, has introduced a new technology: the wristband Festy allowing you to pay for goods and services.

Owners of the compact device won’t need to take a wallet or a mobile phone going to bars and festivals.

The wristband uses Dash. This is one of the most popular cryptocurrencies in the world for payments. Its capitalization has already reached $1.3 bln.

Virtual money is not stored on Festy: the transaction is carried out in the Dash account. The cryptocurrency platform is planning to install an update allowing it to increase the amount of payments. The price of one transaction will stay at the same level of $0.1 which is significantly lower than in traditional payment services.

The new payment service is convenient for organizers of various festivals and open-air concerts. If sellers agree to accept payments in Dash, the wristband will be appreciated by all guests of the event. It will deprive them of the necessity to carry extra things like phones or wallets with them. Instead, they can use a compact Festy for all purchases. The wristband is also convenient for owners and visitors of bars: no need to worry about your wallet if you are going to have fun tonight. You can refill the Dash account in a special ATM or on the Internet.

A few words about technical characteristics of a new development. The wristband uses QR codes and NFS; it is also compatible with POS systems using the technology of contactless payments Visa payWave. Thanks to its flexibility, the device is highly adaptable.

That’s why, according to the CEO at Bitcart Graham de Barra, the company “is creating the technology of the future”.

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