Bitcoin goes speeding on the highway with the likes of the car manufacturer Karma Automotive. Cryptocurrencies are to stay in the car market.
Another Crypto breakthrough in the automobile industry and this time in the hands of Karma Automotive, a California luxury car manufacturer is joining the bandwagon and accepting Bitcoin. The company looks like it’s accepting straight up payments via Bitcoin without any intermediaries.
Bitcoin will be accepted in the company store and Karma will be introducing Blockchain technology in their showroom, according to AutoFutures.
The founder of Karma, Dr. Lance Zhou states on the news:
“We are opening our platform to serve as a test bed to help convert theoretical Blockchain applications to practical use.”
The CEO added that Karma Automotive will induce a partnership with their shareholder Wanxiang Group for the Blockchain add-on, along with accepting Bitcoin for buying vehicles, for example.
Bitcoin is said to be accepted by many companies, small or large, but this one seems the most genuine, since the goal is to help the shareholders grasp what Bitcoin stands for and its tech properties. Usually when accepting Cryptocurrencies, companies use payment processing services as intermediaries for the transactions between the customer and retailer.
Firms usually have the tendency to make such statements about accepting Bitcoin when trying to lure in Cryptocurrency enthusiasts and the payment processor services usually have censorship over the transactions but no with Bitcoin. That’s why Bitcoin is legendary amongst the Crypto community. It looks like Karma would not be using payment processor services and with that doing a massive favor to the Crypto industry.
Back in 2018, the social media platform Gab was told off by the payment processor Stripe that it will be banned if they don’t address their services agreement.
It is a widely known fact that as much as Bitcoin is seen on online shops, the better response it will have to the general public. Stressing on the fact that Bitcoin is a tool for suspicious and criminal activity.