Blockchain and Bitcoin in the beer sector
For many people, Bitcoin, blockchain and cryptocurrencies are terms they don’t understand—technologies of the future and tools for making money. But in reality, blockchain technology, which underpins cryptocurrencies such as the best‑known Bitcoin and Ethereum, is increasingly present in society, not only at the financial level, but also institutionally, industrially, commercially and even socially. It is a still‑emerging technological revolution that encompasses Web3, the Internet of the future, where companies, institutions and society as a whole will gradually adapt to and integrate with it.
The Extremaduran brewery Cerex has, as of last week, added the option to pay in Bitcoin, Ether or USDC in its online store, three of the cryptocurrencies with the strongest global market trends. Coca-Cola is joining the innovative multiverse to be part of a different sales experience. Budweiser and Heineken are buying NFT land in the Decentraland metaverse.
One example was the company Pubinno accepting BTC payments to dispense beer, using the Lightning network at the “LightningHackdaysIST” event held from 25 to 27 February 2022. Pubinno is a San Francisco‑based blockchain technology company that has created the “Internet of Beer” with artificial intelligence, robotics and cloud computing platforms, and has now also integrated Bitcoin (BTC) payment infrastructure into its system. Using their Lightning Network‑compatible digital wallets, participants can receive their beer served just a few seconds after completing the transaction by scanning a QR code with their phone.
The Smart Tap system uses blockchain technology to link the future of draft beer with the future of transactions. The smart tap system is defined as the blockchain technology that comes into play when using the Lightning Network for payments, an instant payment network for paying with Bitcoin. By using real Bitcoin/blockchain transactions and its native smart contract scripting language, it’s possible to create a secure network of participants who can transact at high volume and high speed with low commission fees.
Lightning Network makes it possible to process a greater number of transactions without increasing the load on the blockchain, enabling microtransactions and instant payments. The “advantages of the Lightning Network” allow bar owners to be paid in seconds with little or no fee, and combined with the self-service capability of the smart tap system, this can save money on labor costs.
In Argentina there is the PINta Token, a cryptocurrency used as a currency or means of payment to buy pints of beer in certain venues. Its creator is Mariano Sonzini who, together with a couple of partners, made cryptocurrency trading more tangible. “Bars and restaurants make up the largest and most widely distributed P2P buying and selling network in the crypto ecosystem.” All community users are given access to buying and selling cryptocurrencies without intermediaries or the need for specific crypto knowledge.
Another example is the beer giant Grupo Modelo announcing a 10% cashback program on the purchase of its beer. The program called “Cashback Modelo + Bitcoin” consists of purchasing certain products to receive a Bitcoin rebate, and will only be available to consumers in Mexico.
