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Crypto Startup Pundi X To Power Blockchain Payments at Ultra Music Festival in Taiwan

Tony Spilotro | August 21, 2018 | 8:00 pm
Pundi X
Altcoins

Crypto Startup Pundi X To Power Blockchain Payments at Ultra Music Festival in Taiwan

Tony Spilotro | August 21, 2018 | 8:00 pm

Leading blockchain payments provider Pundi X and its XPASS card platform will power transactions for over 30,000 XPASS holders at the annual Ultra Music Festival in Taipei, Taiwan.

Ultra Attendees Can Pay with XPASS at 35 Retail Outlets

The largest independent electronic dance music festival promotion in the world, Ultra Music Festival, will see their annual Taiwan show become the testing grounds for an exclusive partnership with Indonesia-based cryptocurrency startup Pundi X to power blockchain-based payments for attendees.

Over 30,000 XPASS cards will be available for attendees to purchase and use at Pundi X’s XPOS blockchain payment terminals found at 35 different festival shops. The cards can be used to purchase everything from food to festival merchandise such as T-shirts and other gear.

CEO and co-founder of Pundi X, Zac Cheah hopes the integration of his firm’s blockchain technology will demonstrate real-world usage of cryptocurrencies like Pundi X. He calls it a “major moment for mass adoption,” adding:

“In a little more than two weeks time these doubts can be laid to rest when 30,000 party goers against the hectic backdrop of this year’s Ultra Taiwan festival pay for drinks, food and merchandise using Pundi X technology.”

Last year’s Ultra Taiwan saw the attendance of over 27,000 people. This year is the fifth anniversary of the show, taking place at Da Jia Riverside Park, Taipei, Taiwan on September 8 and 9.  The festival features notable EDM DJs and producers DJ Snake, Marshmello, Galantis, Alan Walker, and many more as headliners.

There’s Another Music Festival on the Block(chain)

It’s not just Ultra Music Festival that’s looking to blockchain to underpin transactions.

EDM DJ, producer, and early Bitcoin investor 3LAU, whose real name is Justin Blau, is launching his own cryptocurrency token, the OMF token, at the upcoming Our Music Festival taking place on October 20 at the Greek Theatre at UC Berkeley.

Pre-sale tickets for the event were offered exclusively to crypto holders, with payments in Bitcoin, Litecoin, Bitcoin Cash, and Ethereum accepted.

Blau aims to create an OMF-based ecosystem that rewards artists and fans for attending events, buying tickets, offering feedback, and overall participation in the “experience.” Blau looked to blockchain’s trustless immutable ledger technology as a deterrent against ticket-related counterfeiting and scalpers who inflate prices. He also expects blockchain technology to “eliminate a lot of the inefficiencies” he experiences in his career in the music industry.

Blau passed on a career working for BlackRock investments to pursue a career in music. Around that time, Blau met Cameron and Tyler Winklevoss who introduced him to Bitcoin and started his love affair with the emerging technology. Nearly five years later, Blau is launching his own cryptocurrency and dipping his toes back into the world of finance, all while still surrounded by his passion in music.

Featured image from Shutterstock.
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