Japan’s budget airline company, Peach Airlines, is set to accept Bitcoin as a legitimate payment method by the end of the year. Aside from that, the company announced itsplans to install Bitcoin ATMs in Japan airports in a move that will encourage usage of the leading cryptocurrency.
Will others follow soon?
Though they weren’t the first airline company in the world to accept Bitcoin as a payment method (AirBaltic being the first one), Peach Airlines is one of the more well known airlines that bring passengers to many Asian countries such as China and Korea.
Even though Peach Airlines has already displayed its acceptance of Bitcoin, not many airlines have been very supportive of the cryptocurrency just yet. One of the reasons as to why Peach officially accepted Bitcoin as official payment was because Japanese government already declared its support for Bitcoin by recognizing it as a legitimate currency.
Blockchain in Japan
Bitcoin has already existed in Japan for quite a long time already as the creator of Bitcoin protocol was presumably a Japanese man by the name of Satoshi Nakamoto. Although this has not been confirmed yet.
In fact, as early as May, many banks have already been investing in Blockchain technology. Banks such as AEON Banks, Resona Bank, and Nomura have already taken an interest in the technology of Bitcoin which means both the technology and the payment method are already widely accepted.
With the rise of Bitcoin around the world, it’s no surprise that Japan is one of the first countries to accept its legitimacy.