Mannheim to Become Germany's First Crypto City
Mannheim is set to become the first crypto city in Germany, where shopping with cryptocurrencies will soon be possible in several stores. The 300,000-resident region aims to make paying with Bitcoin as normal as with Euro. Over 20 businesses have already joined the initiative, from nail salons to shoe stores and fast-food chains.
Test Balloon Mannheim
Mannheim is known for its inventive spirit, being the birthplace of the automobile, the bicycle, the elevator, and even spaghetti ice cream. Max Burger describes it as "the smallest metropolis in the world," with a high recreational value, many young people, a university, and a vibrant creative scene, making it an ideal candidate for a crypto city.
The idea behind the project is to create a network of retailers who accept cryptocurrencies in their stores. Although there are already around 1,000 such acceptance points throughout Germany, the initiative aims to give them a seal of approval for better visibility.
Boost for City Centers?
The concept is not entirely new, with cities like Lugano, where taxes can be paid in crypto, serving as inspiration. Although Mannheim is not there yet, the city hopes to attract a wave of tourists.
"A cohesive shopping experience" is the vision, according to Max Burger. "There are currently around 6.7 million people in Germany who own cryptocurrencies – we want to bring them to our crypto cities."
Retailers could be the biggest winners of this project, as it essentially acts as advertising for them to a specific target group, attracting crypto-enthusiasts to city centers and opening up new customer bases. The project is also seen as a form of location marketing, with local politicians being very receptive to the idea. However, it remains to be seen whether customers will follow suit.
Making Crypto Mainstream
After nearly three years of preparation, the project financed by Nimiq Lab, a foundation-funded organization behind the cryptocurrency Nimiq, is finally bearing fruit. In the coming weeks, the payment solutions will be available, providing a legally secure infrastructure for retailers to accept cryptocurrencies and still receive Euros in the end.
Payment will be possible via app with Bitcoin, the Tether-Stablecoin USDT, and Nimiq. Retailers interested in participating can register directly on the website.
What is being created in Mannheim is just the beginning, with more cities to follow. Berlin is next on the plan, with over 100 crypto-acceptance points already in place, the most in Germany. The initiative could lead to even more, and soon, as "we expect the infrastructure for it to be in place by summer."
For more Crypto and Finance content check out our Blog: https://finixyta.com/safe-safe-crypto-a-promising-digital-currency-for-secure-and-private-transactions/