China’s Oldest Science and Tech Publication Accepts Bitcoin for Subscription
Beijing Sci-Tech Report (BSTR), China’s first and oldest science and technology publication, has announced during the country’s Golden Week holiday that its “Tech Life” will be accepting bitcoin for the magazine’s 2019 subscriptions.
The price for a one-year subscription to “Tech Life” will be 0.01 BTC (about 450 Chinese yuan or US$65 calculated by the current bitcoin price). Readers can purchase an annual subscription by paying the amount to the magazine’s bitcoin address.
“The main purpose of this move is to promote the blockchain technology through practical actions,” as a person in charge of the publication stated.
Committed to delivering the latest news from the tech sector for more than half a century, the magazine of “Tech Life” under BSTR also publishes approved content from the well-known U.S. science journal “Popular Science” since 2015. It is supposed to be the first media publication in the country to openly allow subscribers to pay with bitcoin.
The move comes just a week after a hotel in southwest China accepts ETH payment. It’s another important step towards the adoption of bitcoin into the mainstream. There are more signs that people and businesses in China are trying their best to embrace the nascent but buoyant space despite the fact that the country’s ban on cryptocurrencies remains intact.
In the firm’s statement, it reads, “blockchain, as an emerging Internet technology, has aroused more and more concerns in these years; and bitcoin, born in 2009, currently is the world’s most widely used digital currency. Bitcoin, by using distributed database composed of nodes in the entire network to verify and record transactions and cryptography design to ensure security, is the best blockchain application so far.”
It is notable that the firm says that if the price of bitcoin grows when the one-year subscription period ends, they will offer some refunds to subscribers who paid with bitcoin.
The spread of blockchain technology, as well as trust in cryptocurrencies like bitcoin, is growing and thriving with each of these small steps.