Aberdeen-based craft beer company OGV Taproom has become one of the first brewers in Scotland to accept cryptocurrency payments for craft ale products.
Customers will now be able to buy the brewer’s beer online using Bitcoin Cash, Ethereum, Litecoin and Bitcoin.
The firm launched successfully last year during the coronavirus lockdown with craft ales dedicated to the energy sector.
OGV Taproom was initially created to prevent job losses at OGV Energy and has quickly developed a following. The company is now creating new jobs in the area.
Commenting on the use of cryptocurrencies, operations director Daniel Hyland said: “Lockdown has allowed us all to find a sense of clarity, not just to us as a company but to the wider business community in general.
“Over the last 12 months, since learning about blockchain technology and its adaption within the energy sector, it has become clear to me that it will form part of the future financial system.
“Bitcoin is the best performing financial asset of all time, bar none and will be a store of value that most blue-chip companies will have included on their balance sheet and retail investors will include as part of their investment portfolio.”
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Cryptocurrency has started being utilised as a payment option across many industries as it becomes more mainstream.
In early April, a music school in Morningside in Edinburgh announced it would start accepting Bitcoin as a payment option in the future, stating it believes that the currency will soon “become the norm”.
Digital marketing agency RankWorks also announced in February that it plans to accept Bitcoin as a form of payment for digital marketing campaigns after a sharp increase in worldwide blockchain wallet users, along with significant growth in Bitcoin’s value and market size.
However, cryptocurrencies come with their drawbacks. The price of digital currency can fluctuate wildly based on current financial trends, such as the pushing up of prices after Visa announced plans incorporate a US dollar-backed cryptocurrency on its payments network.