Partnering with cryptocurrency company Pundi X, Ultra Music Festival is bringing blockchain technology payment solutions to Ultra Taiwan.
The festie's 30,000 attendees will be able to pay for goods and services exclusively with the new Ultra Coin, making this one of the most ambitious blockchain moves ever.
Pundi X POS is a blockchain-based terminal that lets retailers process quick, cashless transactions - they'll be installed to allow punters to pay in Ultra Coin with pre-loaded cards at the Ultra Taiwan 2018 event.
Co-founder and CEO of Pundi X, Zac Cheah, reckons the huge blockchain operation will be a huge success:
“While we have witnessed the rise of using blockchain technology for transaction in recent years, debate continues about their use for real-world payments. 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.”