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China’s First Hotel to Accept Ethereum Payment

September 24 – A hotel in southwest China featured by accepting Ethereum payment has opened today, named Ether Hotel (Yitai in Chinese pinyin).

eth hotel

Front view of Ether Hotel

The hotel is supposed to be the first in the country, and perhaps the first in the world, to openly allow guests to pay for lodging with Ether.

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Located in Aba Sichuan, a place ranked among the top 10 Chinese destinations for its primitive natural scenery, the hotel is near to top scenic spots – Siguniang Moutain and Jiuzhaigou Vally.

According to a local report, the hotel’s shareholders, all from the blockchain industry, hold strong belief in the value of technological progress and decentralization, and love to spread the nascent blockchain technology to more people.

Bitcoin enthusiasts in the country are active in bringing cryptocurrency to the right track where it’s supposed to be.

It’s another proof that “healthy” businesses related to cryptos are not banned in China. The regulatory intent of the government is to crack down those scams in the name of this nascent concept. It seems that the country tends to nip something in the bud if they find it will be used for wrongdoing.

Bitcoin trading between individuals is in effect hard to restrict or regulate. Chinese investors can still buy ICO tokens easily, by first using CNY, China’s fiat currency, to buy BTC/USDT with over-the-counter trading platforms.

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OTC trading platform of OKEx, investors can directly buy USDT, BTC, ETH, ETC, LTC, EOS, BCH, QTUM, NEO with Chinese yuan, by posting their sell orders/ purchase orders on the platform and directly buy/sell it from/to other traders.

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