Singapore is celebrating “Token Day” on the decade anniversary of Bitcoin. The effort is put forth by Bizkey, a privately owned business in an attempt to introduce Bitcoin and cryptocurrencies to the masses.
But don’t be confused with the name since Token Day is more of a campaign festival that would go on until 18th of November starting from the decade birthday of Bitcoin on 31st of October.
Bizkey has established a base for point of sales in the Chinatown where more than thirty vendors have set up shops for cryptocurrency users and goods can be purchased using cryptocurrencies.
Despite the fact that Singapore is a crypto friendly economy retailers are finding it hard to bring consumers to cryptocurrencies, and at various points, consumers are facing similar issues with lack of products purchasable through cryptocurrencies.
The idea behind Token Day is to close this long gap in the market and Singapore is the ideal market to start bridging the gap and bring cryptocurrencies into day to day use.
Singapore is a booming market with over fifty ICOs in the first two quarters of this year not to mention the ICOs last year. The retail sector in the country is also happy to get on the bandwagon owing to the secure and reliable nature of cryptocurrencies and crypto transactions.
Discussing the gap co-founder of Bizkey Ken Huang also discussed that even in a flourishing and welcoming market as Singapore not many people are able to use these currencies in daily routine transactions.