Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
Well-known Spanish-born luxury fashion house Balenciaga will start accepting payments in BTC and ETH in its flagship stores and online.
Despite the current crisis in the crypto market, adoption continues to go from strength to strength.
Ahora, Balenciaga, the well-known luxury fashion house founded in 1917 in San Sebastian, Spain, by Spanish designer Cristóbal Balenciaga and known for its unique, for some even extravagant and outrageous clothing designs, announced the adoption of crypto.
This is tremendous news, given that this is a respected brand that until now would have stayed away from the world of cryptocurrencies.
The high-fashion brand, now headquartered in Paris, will begin accepting cryptocurrencies, particularly on Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) y Ethereum a decentralized open-source blockchain with smart contracts functionality. (ETH) . Cryptocurrencies will be accepted in the flagship stores of Balenciaga, including on Madison Avenue in New York and Rodeo Drive in Beverly Hills, as well as on balenciaga.com, the brand’s online site.
As indicated WWD y UToday It is not known if this decision is inspired by the choice to hold its latest fashion show on the trading floor of the New York Stock Exchange, or it may also be that customers have asked for this means of payment. It is also not known the method that the fashion house will use to accept cryptocurrencies, as it is apparently still defining the payment provider.
However, it definitely did say that the brand considers cryptocurrencies in its plans, and even the record drop in crypto prices hasn’t made it abandon this idea. In fact, the company said in a statement:
“Balenciaga is thinking long-term about cryptocurrencies, and fluctuations in currency currency is a medium of exchange that defines value. value are nothing new.”
Luxury and crypto
Other luxury clothing brands are already ahead of him. For example, the Italian firm Gucci announced on May 5 that it will accept twelve cryptocurrencies in 111 stores in North America. Customers who wish to cancel with them will be sent an email with a QR code the action of coding is to write programming statements for a program. to pay via their digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset wallet. Employees have begun receiving training and education on cryptocurrencies, tokens no fungibles (NFT) y Web3 in preparation for the launch.
It is not the only one, also the luxury brandOff-White announced in April the acceptance of crypto payments in its flagship clothing stores in Paris, Milan and London. In addition, in the middle of last year, the German luxury fashion house, Philip Plein known for its flamboyant style, announced the acceptance of a large number of digital currencies in its physical stores and through its e-commerce platform.
To the famous luxury gym Equinox accept crypto since this month.
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Imagen de Unsplash (fashion reference image, it’s not Balenciaga)