China Telecom Subsidiary Accepts Bitcoin For Phone Pre-Order
China telecom subsidiary Jiangsu Telecom (based on the eastern coast of the country) has posted up a promotion on their website for the pre-order of a Samsung Android device that will be released in 2014. The move appears to be an experiment of some sort, and payments are being processed via BitBill, China's version of BitPay. This is huge news in the realm of Bitcoin businesses for the fact that when major companies recognize the power of Bitcoin, it tends to send a message to other businesses. Whether or not accepting Bitcoins to pay monthly subscriptions is yet to be seen. For now,....
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Consumers in China can now purchase smartphones with bitcoin from a major carrier, after a local division of China Telecom announced a promotional offer for new Samsung phones this week. China Telecom's subsidiary Jiangsu Telecom, in Jiangsu province on the east coast of the country, posted the offer on its website. Translated details were scarce, but it appears customers have the chance to use bitcoin instead of yuan to pre-order Samsung's 2014 clamshell form-factor Android phone. Payments are processed through BitBill, China's answer to BitPay. Bitcoin's popularity has soared higher in....
Written by: James Choi (8BTC). Edited By: Elizabeth T. Ploshay (Bitcoin Magazine). Jiangsu Telecom, a branch of China Telecom, the largest fixed line service and 3rd largest mobile telecommunication provider in China, recently announced its decision to accept Bitcoin for one of its promotion campaigns. Bitcoin has been in the spotlight these days in China. With its soaring price and full coverage by CCTV, China's state broadcaster, Bitcoin has drawn abundant attention in the world's 2nd largest economy. Although there is no official statement from the government about the legal status of....
Vitalik Buterin has written a wonderful article about 'Bitcoin: China's New Special Economic Zone' over at Bitcoin Magazine. While it may be quite some time before China's government actually admits that it has allowed Bitcoin to be a sort of Special Economic Zone [SEZ], spectators around the world are eagerly awaiting where Bitcoin will go next. Elsewhere around the world, and perhaps especially in China, speculators [a special type of spectator] are loudly and belligerently jumping ship. I present to you this excerpt from Buterin's article that sums up this First Chinese Bitcoin Bubble:....
In a guest post on Virgin Entrepreneur Dominic Frisby - the author of "Bitcoin: the Future of Money?" - argues that Bitcoin will do to banking what the cell phone did to telecom. Cell phones are technically more advanced and much more flexible than landline phones, and today they offer a lot of new and useful options, but the main reason for the explosive growth of the cell phone market worldwide is financial inclusion. "Quite simply, many people couldn't get access to the basic financial services needed to get a landline. Landlines were, except for pay-phones, credit-based. You needed a....
Wechat Secretary, a virtual concierge and purchasing agent, now accepts Bitcoin for its concierge services. The service allows expats in China to make purchases from Taobao, the biggest e-commerce store in the world, Alibaba and cTrip. The company even accepts bitcoins to create and fund an Alipay account for customers who wish to purchase items in China without the use of an agent. As David Lancashire, a founder of Wechat Secretary says, "This is the equivalent of being able to deposit bitcoin into the Chinese version of PayPal." Wechat Secretary can set you up with airport concierge....