Today, a lot of press has published news related to the fact that the Italian luxury car company – Ferrari has accepted payment in cryptocurrency. This is a big step forward, especially in the US market.
According to the content of the articles, Ferrari has decided to accept cryptocurrency payments for luxury sports car purchases in the US. They also plan to expand this service to the European market after receiving requests from customers. This is not only an important step for Ferrari but also for the entire auto industry.
Notably, Elon Musk’s Tesla car company has also accepted Bitcoin payments from 2021 for their electric vehicles. However, this decision was later withdrawn due to concerns about the impact on the environment. This shows that whether or not to accept cryptocurrencies depends not only on the decisions of governments but also on the decisions of each car company and that specific cryptocurrency.
Many people have asked the question: What if the government does not accept it? The answer does not lie in whether the government accepts it or not, but in whether the electronic currency meets the needs of society or not. According to reports, Ferrari’s largest market is in Europe, the Middle East, and North African countries, accounting for 46% of all cars sold in the first half of this year. Customers in these areas, especially the wealthy, are very interested in using cryptocurrencies in their car purchases.
Currently, the cryptocurrency market has grown with thousands to tens of thousands of different cryptocurrencies. However, the most prominent cryptocurrencies are still Bitcoin, Ethereum and USDT. These are the three cryptocurrencies that are currently the most dominant.
If we turn to Pi Network, although it has not officially entered the mainnet yet, its potential is huge. Ferrari customers, especially the wealthy, often hold cryptocurrencies such as Bitcoin and Ethereum. However, not many people will probably hold more than the number of users of Pi Network worldwide. Pi Network’s cryptocurrency mining community is currently the largest in the cryptocurrency market, although Pi Network has not officially entered the Open Mainnet. But we can see the huge potential of the Pi Network coin for car manufacturers as well as many companies to accept it.
When building the Pi Network project, the management company completed all legal procedures, even in the most demanding markets like Europe. When Pi Network officially enters the Open Mainnet, not only car manufacturers but also many other economic groups will accept Pi. Pi can become a widespread payment currency worldwide in the near future. Surely there will be people who think we are exaggerating, but let’s look at the reality of what Pi network has done?. Although the future is something we cannot know for sure right now, we can wait for time to see more clearly the bright future of Pi.
Remember, all opinions are just personal and each person’s perception. We need to be patient and wait to see where time takes us. During this time, avoid arguing with each other. We can share our views, as long as we do not offend the views of others. According to information from articles about the car company Ferrari accepting cryptocurrencies for payment, they currently accept them in the US and the company is also planning to expand the cryptocurrency mechanism to Europe in 1st quarter of 2024.
Subsequently, other regions of the world are also paying attention to cryptocurrency adoption. The European Union has established clear rules and Pi Network’s management company, Social Chen, has fully met the European Union’s legal requirements, including receiving a license to operate a representative office in Austria and Great Britain. This is an important step as the Ferrari car company plans to expand its cryptocurrency payment mechanism to Europe at the beginning of the first quarter of 2024.
In the near future, when the Pi network officially enters the Open Mainnet, there will probably be clear roadmaps to bring the project into the expansion phase. We can wait and believe that Pi will be accepted by many large companies and economic groups in the world as a payment method. This will bring many benefits to Pi miners, and this is just the beginning.
Besides, an always controversial issue is the KYC (Identity Verification) process and the status of KC (Knowledge Block) in the project. While there are concerns about completing the KYC process and accepting KC statuses like colors, I believe these issues will be resolved before Pi Network officially goes into Open Mainnet.
Thank you for listening and watching.