Slovenia has a population of just 2 million but contains more retail locations accepting bitcoin cash payments than the entire United States. What makes this small country such a cryptocurrency adoption leader? Watch the following video to find out.
Slovenia: The Crypto Country
A short new documentary on Bitcoin.com’s Youtube channel highlights the thriving cryptocurrency ecosystem in Slovenia. The video features some of the places where you can pay with bitcoin cash (BCH), different Slovenian startups developing technologies for the market, as well as Roger Ver going shopping to test out the country’s now famous crypto-friendly locales.
One of the major factors in making Slovenia an international cryptocurrency adoption hub is its welcoming regulatory attitude. The documentary shows that not only is the possession of digital assets legal in Slovenia, but capital income from trading cryptocurrency is not subject to income tax for individuals.
In addition, the country’s political leadership is open and receptive to innovation, as shown in the video by the former Prime Minister Miro Cerar. All this makes the country particularly attractive to entrepreneurs in the growing digital asset industry.
Solving the Enigma
According to the documentary, the single biggest reason hundreds of Slovenian retail locations have begun accepting cryptocurrency payments is Eligma. This is the startup that developed Elipay, a transaction processing system that enables in-shop mobile purchases with BCH, BTC, ETH and its own ELI token.
The prime example of this comes from a giant shopping center called BTC City, in the Slovenian capital of Ljubljana, where many of the stores now accept cryptocurrency payments through the Elipay system. It shows that there is a growing trend for actual usage in Slovenia, as the number of Elipay wallet users already exceeds 15,000. The video also mentions that the Elipay system now accepts payments from the Bitcoin.com Wallet app, allowing the owners of the more than 4 million user-generated wallets to make in-store purchases in supporting locations.
What do you think about Slovenia being such a cryptocurrency adoption leader? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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