The latest positive news for global Bitcoin (BTC) adoption is that over 2,000 vending machines in Australia and New Zealand now accept Bitcoin (BTC), and based on the video below, paying with Bitcoin (BTC) at these vending machines is seamless and instant.
Specifically, Coca-Cola Amitil, which is the largest bottler and distributor in Southeast Asia, has partnered with crypto firm Centrapay, and now Bitcoin (BTC) payments have been integrated into 2,000+ vending machines.
In order to pay with Bitcoin (BTC) at one of these vending machines, users need to download the Sylo Smart Wallet app and deposit some Bitcoin (BTC) in their account. Then they simply select a soda that they want to buy and scan the QR code which is on the machine.
The major advantage of this system is that the soda is dispensed instantly without waiting for any confirmations, creating a fast and convenient customer experience.
The disadvantage however is that these vending machines do not use the Lightning Network. Rather, they just use regular Bitcoin (BTC) transactions, so the transaction fee needs to be paid.
Generally the cost of a Bitcoin (BTC) transaction fee is $1 or less, which is a bit high when buying a soda which costs $1-3. At times Bitcoin (BTC) transaction fees spike to $5-10, at which point buying soda with Bitcoin (BTC) would be nonsensical.
Thus, the 2,000+ vending machines which accept Bitcoin (BTC) in New Zealand and Australia are not yet perfect due to the transaction fee issue, but they are certainly a positive step for global Bitcoin (BTC) adoption, especially since they demonstrate how Bitcoin (BTC) can be used for instant point of sale transactions.