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Bitcoin City, a result of a collaboration between BTC City, the country’s largest shopping mall, and Eligma, a startup specializing in crypto commerce solutions, is Slovenia’s first crypto-centric entertainment ecosystem.
Launched on September 1, 2018, Eligma’s payment solution Elipay is the backbone of the entire initiative, enabling paying in cryptocurrencies via an easy-to-use mobile app.
Slovenia Taking Advantage of Blockchain and Crypto in Commerce
While Slovenia might not sound like a crypto haven, the small European country is one of a handful of places in the world that is actively working on bridging the gap between consumers and digital currencies.
A steady increase in Slovenia’s number of startups and companies specializing in the latest technologies including blockchain has earned the country the moniker of “the Silicon Valley of Europe.” The technological advancements in the field of blockchain and crypto have led to the development of the country’s first crypto mall – Bitcoin City.
BTC City Ljubljana is famous for being the largest and most popular European business, shopping, recreational/leisure, and cultural center that hosts 70 bars and restaurants, 450 stores and attractions, such as a waterpark, a cinematic complex, a theatre, and a concert hall.
Thanks to the Elipay payment system, the 21 million visitors the center sees each year will now be able to pay for its goods and services with cryptocurrencies.
Bridging the Gap Between Merchants and Customers
Designed by the team of developers at Eligma, the Elipay mobile app enables simple payments with cryptocurrencies at online and offline stores and service providers. According to the company’s website, the Slovenian tech startup is also the owner of the Bitcoin City™ registered trademark and co-founder of the Bitcoin City™ concept.
The Elipay mobile app is already accepted at nearly 140 shops and restaurants in Slovenia, most of which are located in Ljubljana’s Bitcoin City. The mobile app enables immediate transactions and provides the merchants with settlements in fiat, effectively shielding them from any risks stemming from market volatility.
What could be the deciding factor that helps the app gain worldwide traction is that it doesn’t require any special hardware. Merchants can integrate the system into their existing POS terminal, or immediately use the Elipay web-based POS.
The application was tested and trialed prior to launch with the first transaction confirmed by Eligma CEO Dejan Roljic back in April, and currently supports payments in bitcoin, bitcoin cash, and ether. According to the company’s website, Elipay plans on adding other ERC-20 tokens in the future.
Roljic said that the app caters to a growing niche of crypto shoppers. However, Roljic added that crypto shopping is not the company’s only goal. “We aim to make Elipay into a comprehensive solution integrating cards and loyalty programs into one mobile app to benefit all consumers,” he added.