Although Northern hemisphere has already had cases of wine businesses allowing to pay for their product with cryptocurrency, only recently has Southern region joined the cause.
Pyramid Valley Vineyards that is located within a North Canterbury is a small but nevertheless ambitious winery. Since 2000 when it was set up, the winery owners have earned unofficial title of being the most provocative wine producers in New Zealand. The main reason to set their eyes on Bitcoin was not only its property to freely flow around the world, but also the numerous requests from their customers. One of the reasons why cryptocurrency was created in the first place was to omit transaction fees, which had also been the concept under the wine buyers’ wish for Bitcoin payment!
Caine Thompson the man behind direction of Pyramid Valley explains that it is only logical to give users the option to pay with Bitcoin because of the fact that they are selling their wines mostly via webpage. As bitcoin option was established on December 9th 2013, only that month the 9% of all deals they made online were bitcoin transactions. Transactions are mostly local, meaning New Zealand, but according to Thompson it is only the beginning as their client base is continually expanding abroad.
Another fact worth mentioning is that cryptocurrency as means payment was chosen not only online but also when the trade was made personally via the mobile wallets.
Speaking of wineries, some has been accepting digital currency since the beginning of 2013. Among those are Canadian Rollingdale stationed in British Columbia, the Picnic Wine Company from Napa Valley, California. Only a week ago another Californian winery Mondo Cellars joined the coin. However, all of the latter are north of equator and being on the other side is what makes Pyramid Valley Vineyards to stand out.
Hopefully, what we are seeing here is another digital currency success story and while Mike and Caudia Weersing, the founders of the company are making their way in the wine business, a glass of Chardonnay anyone?