AMC Entertainment CEO Adam Aron announced on Twitter that the movie theatre chain would accept Bitcoin along with other cryptocurrencies as payment. Aaron said that digital assets would be accepted as payment by the end of the year.
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AMC Networks Inc. is an American entertainment company headquartered in New York, that owns and operates the cable channels AMC (its eponymous brand), IFC, We TV and SundanceTV; the art house movie theater IFC Center in New York City; the independent film companies IFC Films and RLJE Films; and premium subscription streaming services Acorn TV, Allblk, Shudder and Sundance Now. The company operates in Europe & Latin America through its international division, AMC Networks International.
Altcoins are AMC’s major focus
Movie ticket sales and concessions will now be able to be paid for with a range of cryptocurrencies that AMC intends to integrate. During its second-quarter earnings report, the entertainment company announced that Bitcoin payments would be accepted for online tickets.
Earlier this year, it was planned to implement bitcoin payments. According to the AMC CEO, the company will also be accepting Ethereum, Litecoin, and Bitcoin Cash as of September 16.
According to Aron, Apple Pay and Google Pay will be added to the firm’s Q2 earnings call. Prior to its announcement about enabling altcoin payments, AMC confirmed that it would also investigate blockchain options.
Blockchain adoption is inevitable
Blockchain technology possesses a vast potential to transform traditional business models. Savvy business executives are already exploring how blockchain might impact their industries and their competitive positions within those industries. Yet, there are significant barriers and risks associated with blockchain technology. In this article, we highlight some of the major obstacles and risks associated with this transformative technology. The topics discussed here are neither definitive nor comprehensive; however, they provide accounting and finance professionals with a timely introduction to the barriers and perils related to blockchain technology. Although blockchain adoption is inevitable for business enterprises, careful consideration of the risks and challenges before, during, and after blockchain implementation will help ensure long‐term success.
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