Crypto Beats Fiat in Round the World Payments Race
4 contestants are currently racing their way around the world in a mission to reach Amsterdam first. The Payments Race runs westwards from London, circling the globe before completing at the Money 2020 event in the Dutch capital today, June 4. In keeping with its theme, each candidate should utilize a different payment method throughout their journey. Alex Hobern has picked cryptocurrency as his sole methods of nourishment and survival on the winner-takes-all journey.
Round the World Payments Race Showcases the Future of Money
Cash, card, mobile and crypto are the 4 payment techniques available for the Round the World Payments Race, with one assigned to each racer. Northern Ireland, Hong Kong and Lithuania are amongst the checkpoints to be visited throughout the course of the westward circumnavigation.
Crypto prospect Alex Hobern is accustomed to attracting publicity in his role as a social media developer and TV personality, however, he’s an admitted newb when it pertains to cryptocurrency. As such, his journey is one of self-discovery as much as it is worldwide conquest. The guidelines of the obstacle required that he can’t use crypto surrogates such as cryptocurrency debit cards or Bitcoin ATMs: Hobern is just permitted to invest crypto in its purest P2P type.
The Challenges of Living on Cryptocurrency
When asked why he had actually chosen cryptocurrency from the offered options, Hobern revealed: “In my view, it poses the biggest obstacle. With a large and dedicated community, its adoption by merchants is very low. Being someone who thrives out of their convenience zone, I chose it was the best way to make the journey a real obstacle.” He admits to having known “definitely nothing” about cryptocurrency prior to the race save for a few tales from mates who got rich throughout the market mania of 2017. To help him out, London-based cryptocurrency payment service Wirex provided him with a refresher course on whatever he needed to understand before setting out.
Cryptocurrency’s suitability for spending costs is a matter that’s fiercely divided its community. While a substantial percentage of BTC users have no desire to spend their coins, which they believe to be a store of value, others aspire to deploy their crypto as P2P cash including BCH, LTC, and DASH owners. Alex Hobern speaks glowingly of the support he’s received from the crypto community on his journey but admits to having experienced difficulty in finding organisations that would accept cryptocurrency. He even visited a place called the Crypto Cafe that would not accept his digital coins.
Prior to showing up in Europe, Alex’s group were strongly in the lead, based upon points scored for finishing numerous payment obstacles along the way. However, he found it difficult to complete the ‘Different modes of transport’ challenge in Europe utilizing crypto, where he rather resorted to checking off as many countries as possible to gain extra points.
Found a little spot in Hong Kong that accepts #Crypto… #TeamCrypto are eating tonight that’s for sure ! 🔥 #PaymentsRace #TeamCrypto #RTW #Money2020 pic.twitter.com/QqJZVWVhnL
— Alex Hobern (@alexhobern) May 30, 2019
Crypto’s Value Is Universally Recognized
Despite the difficulties of spending cryptocurrency in specific locations, in every nation Hobern has gone to, there were people willing to welcome him and his crypto with open arms. Trip highlights have actually consisted of yachting in San Francisco Bay, with the help of Cheung Tan from Token, who purchased tickets, enabling Hobern to pay him in BTC. Future.Travel and Trippki were utilized to arrange flights and hotels, all settled for in crypto, leaving Hobern with the task of gathering crypto enthusiasts on the ground to assist him to navigate.
Hell yeah… what a wild ride it was. Round the world in 2 weeks using crypto 🔥🔥 #TeamCrypto #PaymentsRace pic.twitter.com/IksuLYa0xI
— Alex Hobern (@alexhobern) June 4, 2019
Throughout the course of his trip, which completes today, Hobern has actually managed to spend cryptocurrency in the U.K., Ireland, Canada, U.S., Hong Kong, Dubai, Austria, Slovakia, Hungary, Italy, Lithuania, Finland, Belgium and Amsterdam, primarily in BTC, ETH, and LTC. The difficulties of utilizing bitcoin core for small payments became obvious on a minimum of one occasion when Hobern found that the cost of the transaction cost went beyond the cost of the goods.
Team Crypto was first to cross the finish line a couple of hours ago however will need to wait to discover whether they accumulated more points than the other groups. Win or lose the Round the World Payments Race, Alex Hobern declares to have developed a love for all things crypto, and a desire to get into investing and trading when his impressive journey concludes in Amsterdam later on today.
#TEAMCRYPTO first to cross the line. Thanks so much to everyone who supported along the way. No idea where we stand on points but a special shout-out to @wirexapp @FutureTravel14 @Trippki_ @bitrefill and @token_io for making this possible 🔥🔥🤟🤟 #PaymentsRace pic.twitter.com/dPl5Q3iIOx
— Alex Hobern (@alexhobern) June 3, 2019
Do you think it would be difficult to travel the world on cryptocurrency? Let us know in the comments section below.
Images courtesy of Shutterstock.
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