Oh, how fast things change in the wonderful world of Bitcoin. Last Friday, Ohio regulators decided to ban Bitcoin-for-alcohol sales in the state. Today, I am glad to bring you a positive story about Bitcoin and alcohol. Let me introduce you to Honest Brew, a…
Oh, how fast things change in the wonderful world of Bitcoin. Last Friday, Ohio regulators decided to ban Bitcoin-for-alcohol sales in the state. Today, I am glad to bring you a positive story about Bitcoin and alcohol. Let me introduce you to Honest Brew, a United Kingdom based company that wants to help you find and enjoy your favorite beers, wherever you want to drink them. What’s more, they decided to accept Bitcoin as a method of payment. Bitcoins for beer, the world just became a better place.
[dropcap size=small]T[/dropcap]he website acts like a webshop where you have a vast selection of beers at your disposal. You can choose one of the Honest Beers, the company’s own brewing, or another beer of your preferred brewery. Once your selection is complete, you will be guided to the checkout. After paying and filling in the necessary details, your beers will be shipped to the address you provided.
So beer and Bitcoin, not a combination you would be expecting, right? The people at Honest Brew see a future in virtual currencies. “We’ve followed bitcoin since pretty much the beginning. It wasn’t until our digital designer was recently offered freelance work paid in bitcoin that we really considered it for Honest Brew.” said Andrew Reeve, CEO and founder of Honest Brew. This once again proves the business world’s interest in Bitcoin. No matter how you look at it, virtual currencies have certain advantages that the current monetary system cannot match.
Obviously, cryptocurrencies have their disadvantages, as well. The price is very volatile (although this is mostly due to external influences trying to disrupt Bitcoin as a currency) and this might scare some people. Honest Brew acknowledges this, but has their own way of countering this problem. “Volatility is something we have had a good hard look at. We can change the currency bitcoin sales are received at our end. We can use this to reduce the volatility by choosing a higher percentage of GBP then bitcoin on a transaction.” said Reeve when asked how his company would cope with Bitcoin’s volatility.
It all boils down to the faith a company has in Bitcoin. Do they believe there is a future for cryptocurrencies or do they think it is a trending topic that will fade once the hype is over? “In my personal opinion I can see them doing well.” Said Reeve. “Eventually virtual currency could become complementary to fiat currently where it may provide a better fit for digital/online transactions.” This is a stance we see often at online companies. Bitcoin might very well become a service that offers the best way to make online transactions. Right now, the main issue is the fact that recurring Bitcoin payments are not possible yet. This is a service utilized by many online merchants. Once somebody is able to provide this feature, Bitcoin will stand very strong as an online payment method.
Honest Brew uses Bitpay as their preferred partner to implement the Bitcoin payment method. “Integration has been relatively straightforward and we use the security of their platform to process the bitcoin payment.” Added Reeve. It seems there are little excuses left to leave Bitcoin out of the payment options. Honest Brew is one of the many companies that announced their faith in the virtual currency. I’m sure more will keep following this example.
In order to celebrate the Bitcoin adoption, Reeve mentioned the company is thinking of releasing a limited edition “digital” beer in the future. The only way to buy this will be with Bitcoin. If freedom has a taste, I think this would come pretty close!
Last modified: January 10, 2020 2:05 PM UTC