Case Study: Bitcoin as Medium of Exchange at Bitcoin Atlantis 2024
This case study explores the collaborative efforts to onboard merchants and locals to adopt Bitcoin at the event, streamlining the payment experience resulting in over 8,750 transactions with a volume of 2.029416 BTC valued €115,100, on 60 point-of-sale devices and 18 merchants in just 3 days.
- "Implementing a seamless payment experience while navigating challenges involved several key technical and user experience innovations, complemented by open collaboration between multiple projects."
- "A reliable payment processing system that could handle a large transaction volume without hiccups was achieved through the deployment of a dedicated BTCPay Server instance."
"The lightning Network was used for instant and low-cost transaction settlement. Each merchant, had a dedicated store within BTCPay Server created. Each store had a wallet, and a web point of sale app which was loaded on Bitcoinize Point of Sale devices – enabling invoice generation, transaction previews, receipt printing, and refunds."
- "Liquidity issues and channel management on the Lightning Network were addressed by connecting stores to an external Blink wallet account via a BTCPay & Blink plugin, a custodial convenience option for Lightning payments available since BTCPay Server 1.12.0."
"The introduction of BoltCards provided by CoinCorner was an enhancement in user-experience. It allowed quicker onboarding for the locals who had no access to bitcoin, it also reduced their fear of using an unknown technology."
- "The collaborative effort culminated in an enriching experience for both merchants and customers, manifesting in 8,750 transactions, averaging 13,20 € per transaction, aggregating to a value greater than 2.2 BTC or 115,100 €."
