Bitcoin Forum

IKEA just allowed an invoice to be paid via the Ethereum blockchain
https://thenextweb.com/hardfork/2019/10/02/ikea-iceland-smart-contracts-ethereum-tradeshift-monerium-invoice-nordic-store/ (https://thenextweb.com/hardfork/2019/10/02/ikea-iceland-smart-contracts-ethereum-tradeshift-monerium-invoice-nordic-store/)

Why not? IKEA is a company with modern views

I think there's a service like that in only Iceland. Scandinavian countries are very innovative about this blockchain and crypto coins. If IKEA spreads it all over the world, it's good for the ethereum. However, ethereum 2.0 needs to be activated. I don't think ethereum can handle this responsibility at the current tx speed.

Just for the start, it's optimistic. 

The article is actually a bit confusing. There was some sort of transaction involving IKEA and Ethereum. The transaction was with another company, not some random customer, though, so they might have not gone into trouble just for people. And then yes, now I got how it happened. It was a transaction that could not have happened in a different country. It was allowed because of Iceland's fiat currency being available as e-money and because it's allowed to exchange some types of digital money for others. So basically, until you have your national crypto-currency that represents your country's fiat, you probably cannot use Ethereum to pay for products you buy in IKEA.

This is good news but i don't think it will affect the price of ethereum. But I'm happy with the news, rather than the price impact, because it's so gratifying to see that crypto coins are used in daily life. I hope this kind of practice becomes more common and cryptocurrency will soon become a part of our lives.

If this is for real its a step up for both Ikea and Ethereum but I'm doubt this could impact Ethereum price to higher prices. Most of the times when big partnerships like this are announced, the prices slips down a bit so we might see Ethereum going down for a while but in the long run, I'm sure it will impact the price in a positive way. We can all hope to a new altcoin bull run in order to go and shop at Ikea with our Ethereum maybe even re-decorate our house who knows.
Also lets hope this won't be a make a puzzle deal when they won't give any details to customers on how to buy things with Ethereum as that will sounds like pure Ikea marketing haha.

Definitely a good start!

Even if they slowly push to allowing only certain companies to start, it'll maybe snowball into full acceptance for all customers.

I'm a little bit confused with this article, hopefully what I catch from this articles is not wrong. They do not accept ETH as a payment method at IKEA especially in Iceland but they use ETH technology for their payment or can say use smart contract, which they built e-money on the ETH network.

Have you ever read it carefully?
Ikea used monerium startup's service to issue its digital coin that backed by fiat consider monerium is the only party that has acquired official license to issue a fiat the digital form just like a crypto stable coin.
This news gives nothing to the ethereum's price and you must not expect a lot from this news.
This just like issuing a token but it will be already issued by a party that fully registered and licensed to operate in european economic area (EU economic territory).

Read more about that
https://www.businesswire.com/news/home/20191001005437/en/Tradeshift-Frontiers-Monerium-Settle-World%E2%80%99s-Invoice-Smart
https://www.coindesk.com/icelandic-regulators-approve-startups-plan-for-fiat-payments-on-ethereum

Not really shocked and I'm expecting more enterprises to start accepting crypto as a form of payment moving forward. This may not impact the price of Eth to go up but this is a big win for the crypto community as a whole.

Wide acceptance of crypto as what we really needed to get mass adoption, Governments like Venezuela will soon be able to accept crypto payments, getting better/easier access tokens through IEO alternatives (https://www.newsbtc.com/press-releases/standard-tokenization-protocol-tokenprotocol-io/) without having limitations to get in, establishments accepting btc as payment, and things like what IKEA did is truly a pleasure to see. Blockchain and crypto is the future and major key players in the space are definitely starting to realize it now.

But just the fact that they are issuing digital fiat and using smart contracts with them can be a big thing for eth if it catches on.
Eth wasn't never meant to be just money to use but to use it as the platform like for this for example.


<- This was the big news to me on this article.

Well, obviously IKEA was one of the company which is under the control of the government who used under the payment in the smart contract of blockchain field, correct me if I am right to my understanding. So I think, on this issue the price of Ethereum might get affect by it, in which is good news to all eth holders.

Cool thing, I hope more global players will start to accept cryptocurrency payments to grow mass adoption. That way the whole ecosystem will mature.

This is great! IKEA is not such a small company :) This is a good reserve for the future. If it is possible to develop the direction of such payments, then there will be others who want to introduce payment using cryptocurrency.

gradually and confident steps people enter the world of cryptocurrency, because it is convenient and profitable. IKEA is an advanced store, and I am not surprised that they are starting to use blockchain and their cryptocurrency.

Alright agreed, but you can still use crypto to pay for an asset be it national crypto.

Great news not only for the crypto community but also for the likes of the furniture industry as well. This will certainly push competitors to accept cryptocurrencies as a payment option. Further, a boost to the Ethereum market which has been seeing ups and downs wouldn't be such a bad thing either.

im trying to understand this, dosent seem to be as big of news as people think?
the article is weird, its like they used some third party or was it a direct payment with ETH?
to ME the article sounded like they were using a third party something like Bitpay but for ETH, which would still be sweet, but not THAT huge :P

also: ETH dosent need hype, ALL it needs is PoW to end, and its moon time ;)

Yes. I love hearing news like this. Crypto is active for real transactions. So with the presence of companies like IKEA, crypto users will increase, thus the price of crypto will also increase.

IKEA is a swedish company and makes almost anything. They have a wide range of product and a large service area. Integrating crypto in their payment would further their use.
As read the article, it's not just a payment completed with Ethereum. IKEA Iceland used smart contract on Ethereum to create a smart invoice. And actually paid with digital Krona.
It's the first time smart contract being used in such trade.

wow, super news, thats mean one - soon world will be ready to use cryptocurrency as payment method, also I think we could see december 2017 soon again

read the article dont understand the big deal.
sure its nice ofc, but its not the biggest of deals and it wont change anything im afraid :/

It's amazing to see that Tradeshift assisted IKEA to process an invoice using Smart contract on Ethereum blockchain for a local retailer. I'm looking forward to seeing a day when many businesses will adopt blockchain technology and crypto mainstream. This is the only way crypto won't go extinct, even though more upgrades in blockchain architectures and regulations might be needed soon for remarkable adoption to happen.

This news pleased me very much and I am glad that such a big business keeps up with the times. It seems to me that this is an indicator of how the cryptocurrency is used in various sectors of the existing business.

Nice! It's good to see large retail chains like IKEA getting behind the crypto scene. I guess in order to receive  steady adoption we need the big merchants to gradually start accepting payments in crypto, creating a wider reach to of people who may be unfamiliar with crypto.

If it is true, it is good development for not only for ETH but also for crypto world. As global companies like IKEA start to use (even pronounce) crypto currency, it will be good opportunities for all crypto world make their own advertisement. With this purpose new traders and investors can meet with crypto. More money can flow to crypto.
In these situation, we must be careful about new traders not be scamed by scammers. We must protect all crypto world against scammers for the sake of crypto.

Yes, I heard about it. Co-founder of Tradeshift hopes that this can help break down country barriers for small companies and open access to finance in all of our 190 countries where the Tradeshift platform is operational. I think it's a huge step for crypto community.

Wow, this is huge news for Ethereum. Ethereum becomes useful in everyday life and people will realize how this technology can be helpful and reduce costs of service. But many people could lose their job because they can be replaced by this technology.

Excitemeny intensifies!!.. IKEA is a huge multinational company. It has a few points of work in my country as well  and I've even been looking lately to buy some furniture and appliances. Will send them an email to inquire about paying with cryptocurrencies.

It would be a much better news, if IKEA would accept crypto globally. But as far as I understood, they are accepting ETH only in Iceland, and this country is very crypto friendly with a bunch of mining firms located there.

I don't know if that is true or not, but they can accept ethereum technology and integrate their payment with the ethereum. If that is true, then I think that can bring new experiences to IKEA. I think that can attract the other big companies to use not just ethereum but also bitcoin. But that will be interesting to see what will happen next to the other big companies. Will they follow IKEA to accepts cryptocurrency, or they still use the existing payment system.