{"id":21202,"date":"2022-03-17T20:59:59","date_gmt":"2022-03-17T19:59:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=21202"},"modified":"2022-03-17T22:53:12","modified_gmt":"2022-03-17T21:53:12","slug":"the-internet-of-beer-integrates-bitcoin-payment-system-using-lightning-network","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/the-internet-of-beer-integrates-bitcoin-payment-system-using-lightning-network\/","title":{"rendered":"The Internet of Beer integrates Bitcoin payment system using Lightning Network"},"content":{"rendered":"\n
Pubinno, a San Francisco-based technology company that created the “Internet of Beer<\/a>,” has now integrated a Bitcoin (BTC) payment infrastructure into its system.<\/h5>\n\n\n\n
\"The<\/figure><\/div>\n\n\n\n

Pubinno used the Lightning Network to accept BTC payments at the #LightningHackdaysIST\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which took place from February 25 to 27. Participants who use wallets that support the Lightning Network could get their own beer poured in seconds after scanning a QR code to finalize the transaction.<\/p>\n\n\n\n
\"\"<\/figure>\n\n\n\n

The Smart Tap system, according to Pubinno CEO Can Algul, was built in 2016 and uses blockchain technology to connect the future of draft beer with the future of transactions.<\/p>\n\n\n\n

The Internet of Beer and the lightning Network<\/h2>\n\n\n\n

Algul discussed how blockchain technology affected his decision to use the Lightning Network for payments,<\/a> stating:<\/p>\n\n\n\n

“We worked on Lightning Network because it is dependent upon the underlying technology of blockchain. By using real Bitcoin\/blockchain transactions and using its native smart-contract scripting language, it is possible to create a secure network of participants, which are able to transact at high volume and high speed with low gas fees.”<\/p><\/blockquote>\n\n\n\n

In 2015, the Lightning Network was presented as a solution to the Bitcoin scalability issue<\/a>. It permits nodes to conduct off-chain transactions that are ultimately settled on the blockchain.<\/p>\n\n\n\n

This allows for more transactions to be executed without putting more strain on the blockchain, enabling microtransactions and immediate payments.<\/p>\n\n\n\n

Advantages of the Lightning Network<\/h2>\n\n\n\n

According to Algul, the “advantages of the Lightning Network” allow bar owners to get paid in seconds with little or no commissions, and they may save a lot of money on personnel expenditures thanks to the smart tap system's self-serve capacity<\/a><\/p>\n\n\n\n

When asked if they plan to accept additional cryptocurrencies as payment on the Smart Tap system, Algul said it would depend on a variety of factors including scalability, frequency of use, transaction cost, and speed. He went on to say:<\/p>\n\n\n\n

“We will determine our direction according to the adaptation of the industry and continue to develop our infrastructure on a blockchain adaptive basis. We also conduct feasibility studies on developing Pubinno tokens.”<\/p><\/blockquote>\n\n\n\n

“The world is in the midst of a deep digitization era<\/a>,” he stated, “and the fastest development is shaped around blockchain.”<\/p>\n\n\n\n

The first cryptocurrency that sprang to mind for Algul was Bitcoin, but he also mentioned that stablecoins would be added to the payment system in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pubinno, a San Francisco-based technology company that created the “Internet of Beer,” has now integrated a Bitcoin (BTC) payment infrastructure into its system. Pubinno used the Lightning Network to accept BTC payments at the #LightningHackdaysIST , which took place from February 25 to 27. Participants who use wallets that support the Lightning Network could get […]<\/p>\n","protected":false},"author":12,"featured_media":21204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[7170,6483,8186,8185],"class_list":["post-21202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin-payment-2","tag-lightning-network-2","tag-pubinno","tag-the-internet-of-beer"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/image-127.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/21202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=21202"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/21202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/21204"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=21202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=21202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=21202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}