As per a press release, AT &T of the US starts accepting virtual currencies for online phone bill payment. The firm announced on 23rd May.
Reportedly, the telecom and media firm of US will use BitPay, the platform of crypto payment. It will use the platform for processing the bills that people pay in cryptocurrencies. For the record, more than 20 thousand businesses use BitPayas their payment partner. As per matter of fact, BitPay instantly converts cryptocurrencies into fiat. Interestingly, with this unique feature, AT & T becomes first to offer payments in BitPay. The firm is the first to offer such services in the industry of wireless network.
Similarly, Kevin McDorman comes forward to give his statement on the announcement. For the record, Kevin is AT & T’s Vice President for Communications Finance Business Operations. Kevin says that they have customers using cryptocurrencies. So, they are happy to help such customers by providing them a means. The benefit is that they can make payment according to their preferable method, says Kevin.
AT & T disclosed working on some blockchain solution
Previously in 2018, AT & T came forward to disclose that they are working on some blockchain solutions. They also disclosed that the blockchain suit they were working on would be compatible top blockchain platform. Such a blockchain platform is, for instance, IBM blockchain platform and Microsoft Azure.
At that period, the giant in telecom and media said that they have some high aims with the blockchain suite. Additionally, the company claimed to provide accountability and transparency to supply chains which include complex ones too. Furthermore, AT & T said that its services would apply to institutional customers like retail, manufacturing healthcare, etc.
Similarly, AT & T applied for a patent for a social media map. As per reports, the map is blockchain based and enable various features. The map will enable a network to gather transactional information about its subscribers.
On the other hand, currently, AT & T limits the users to do only phone bill payments via BitPay. But, the firm did not specify whether it will enable the purchase of goods via the application.
Social media map might take advantage of blockchain records- UPTO
However, UPTO published application in December last year. The application that the US Patent & Trademark Office submitted states some facts. The reports from December states that the social media map might take advantage of blockchain records. As these records are permanent and immutable, it’s accessed may have certain drawbacks. According to UPTO, the map would store and provide access to different transactions on different social media platforms to hamper its security.
Therefore, at present, customers can make crypto payments by selecting BitPay in the list of payment options. So, they can do so with logging into their accounts or through AT & T’S app. As per matter of fact, the application of the firm goes by the name myAT&T.
Moreover, the US-based firm is not the only one to make crypto payments. Some of the other firms included in the list are Overstock, Subway, Expedia, Shopify, etc.