Participants were able to receive their own beer poured seconds after completing the purchase by scanning a QR code with their Lightning Network-compatible wallets.
Pubinno, a San Francisco-based technology company that uses artificial intelligence, robotics, and cloud computing platforms to build the “Internet of Beer,” has now integrated Bitcoin (BTC) payment infrastructure into its system.
Pubinno allowed Bitcoin payments via the Lightning network during the February 25–27 #LightningHackdaysIST. By scanning a QR code with their Lightning Network-enabled wallets, participants could receive their own beer poured seconds after completing the purchase.
According to Volkan Dogan, Creative Director at Pubinno, the Smart Tap system was developed in 2016 and leverages blockchain technology to connect the future of draught beer and the future of transactions.
Dogan stated how blockchain technology influenced his decision to make payments using the Lightning Network, claiming that:
“We worked on Lightning Network because it is reliant on the blockchain’s underlying technology. By utilising genuine Bitcoin/blockchain transactions and the native smart-contract programming language, it is feasible to establish a secure network of members capable of transacting at high volumes and speeds while incurring low gas expenses.”
The Lightning Network was offered as a solution to Bitcoin’s scalability problem in 2015. It enables transactions between nodes to take place off-chain and are then settled on the blockchain. This enables the processing of a greater volume of transactions without raising the burden on the blockchain, enabling microtransactions and immediate payments.
According to Dogan, the “advantages of the Lightning network” enable bar owners to receive payments in seconds with little or no commissions, and the self-serve capacity of the smart tap system may result in significant labour cost savings.
When asked if they want to integrate other cryptocurrencies as payment methods on the smart tap system, Dogan stated that it will depend on a variety of factors, including scalability, frequency of use, transaction cost, and speed. Additionally, he stated:
“We will adjust our course in response to industry adaption and continue to expand our infrastructure on a blockchain-adaptive basis. Additionally, we do feasibility studies for the development of Pubinno tokens.”
“The world is undergoing a profound digitization phase,” he explained, “and the most rapid development is centred on blockchain.” Dogan immediately thought of Bitcoin, but he also suggested that stablecoins would be integrated into the payment system in the future.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.