3D-Printed PEY Terminal Sought to Power up to Fifty Merchants in Hanover

A 3D-printed, NFC-capable terminal may be the future for Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term in Hanover and its version of Bitcoin Boulevard.

A German entrepreneur, Ricardo Ferrer Rivero, has created the PEY terminal to make bitcoin payments more convenient for in-store shoppers and easier for merchants.

The entrepreneur runs the Edelstall co-working space. His idea was born when he was looking for local merchants where he can spend his bitcoin.

The device is an add-on that uses iBeacon technology, which helps notify iOS devices of its presence. Thus, it communicates to prospective shoppers the presence of terminals in their vicinity. When a purchase is made, the transaction is sent via near field communications (NFC) technology.

BitPay is the payment processor, itself already having launched its iteration of NFC payments in November.

A dozen merchants, including a bakery, supermarket, travel agency, hair salon, café, restaurant, burger bar and a pub, are already accepting bitcoin thanks to the terminal. Another 38 have reportedly agreed to join, which would put Hanover on a similar playing field as other "Bitcoin Boulevards" in Europe and beyond.

In order to make the technology more widely accepted, development is ongoing to make it available for Raspberry Pi.

Rivero also wants to have a bitcoin ATM installed in the city and is reportedly working with Lamassu.