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Yesterday, Ethereum rolled out the very first iteration of its anticipated protocol implementation, marking a very significant milestone for the blockchain network. The first phase of the implementation protocol upgrade, called Byzantium, has been implemented on a testnet, and is expected to help minimize exploits and increase efficiency within the Ethereum network.

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South African retail chain to accept Bitcoin

A company called Electrum has developed a way for South African grocery retailer Pick n Pay to start accepting Bitcoin. For the very first time customers will be able to walk into a Pick n Pay store and purchase groceries with Bitcoin. The checkout process is considered fairly simple: As customers ring up their items, they tell the cashier that they will be paying in Bitcoin. A QR code will then be printed out, which will be scanned using a Bitcoin wallet app on a smartphone.

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Jason Peisl, Information System Executive at Pick n Pay, explained that one of their key values is to embrace change and to encourage innovation and leadership. While delivering on that promise, they are constantly working along with their technology partners to find new ways in which they can deliver valuable and innovative services to the customers. “Cryptocurrency and Bitcoin are still relatively new payment concepts,” said Peisl, “yet we have been able to effectively demonstrate how we are able to accept such alternative payments.”

All trading involves risk. Only risk capital you’re prepared to lose. The information above is not investment advice.