Slovenia, which has a population of just 2 million, contains more retail locations accepting bitcoin cash payments than the entire United States combines. This makes the country a leader in terms of cryptocurrency adoption leader. This was further showcased in a short new documentary on Bitcoin.com’s Youtube channel which throws a light on the cryptocurrency ecosystem in the country. 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.
A factor which makes it possible for Slovenia to have made such progress in terms of being an international cryptocurrency adoption hub is its welcoming regulatory attitude. The documentary also 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. Along with this, the political leadership of the country is also open and appreciative of 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.
The documentary also notes the most prominent reason as to why hundreds of Slovenian retail locations have begun accepting cryptocurrency payments is Eligma, which is a startup that developed Elipay. Elipay is a transaction processing system that allows in-shop mobile purchases with BCH, BTC, ETH and its own ELI token.
The prime example of this comes in the form of a massive shopping complex called BTC City, in Ljubljana, the Slovenian capital, where many of the stores are now accepting cryptocurrency payments through the Elipay system. This, along with the fact that the number of Elipay wallet users already exceeds 15,000, indicates that there is a growing tendency for actual usage in Slovenia. 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.