The hottest electronic music festival in Asia is a step ahead of its peers by accepting onsite transactions in Ultra Coin. Pundi X blockchain technology will be used at the event, which is expecting over 30,000 participants. With this, Ultra Taiwan has become the first music festival to use blockchain technology.
The World’s Largest Electro Music Fest Celebrates Blockchain
Ultra Taiwan is the largest independent music festival in the world, set to feature several renowned electronic music DJs, along with the highest end visual, cryogenic and pyrotechnic effects. The festival will use Pundi X’s blockchain technology to let over 30,000 participants use XPASS cards.
The cards can then be used to buy goods and services at over 35 different festival shops fitted with Pundi X’s point-of-sale (PoS) terminals. This will facilitate quick cashless transactions. However, users cannot pay in their cryptocurrency of choice. They will have to use the Ultra Coin, a token generated specifically for use during the festival.
The festival marks its fifth anniversary this year and will feature popular artists like DJ Snake, Alan Walker and Pan-Pot. It will be held on September 8 and 9 at Dajia Riverside Park in Taipei.
Pundi X Excited With New Changes
Zac Cheah, Pundi X co-founder and CEO, said that the debate over the real-world use of digital tokens is gaining heat. He added:
“In a little more than two weeks, 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. We’re very proud to be bringing blockchain-based payments to a major festival for the first time in the world in a major moment for mass adoption.”
Pundi X started shipping its PoS devices to the global market this month. Retail partners in Korea, Switzerland and Singapore will be among the first to use these devices. The PoS devices were ready months after their January ICO, which saw them raise $35 million. The company intends to roll out over 100,000 of its PoS devices globally. About 5,000 preordered devices are already being shipped, while 20,000 more have been ordered.
Ultra Taiwan Music Fest Will Use Blockchain for Onsite Transactions was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.