From December 620 stores from the Gangnam Shopping Center (Goto Mall) will start accepting bitcoin as a payment method. The mall will become one of the biggest bitcoin bases in South Korea.

The stores will be provided with smart payment systems. This was made possible after Goto Mall made an alliance with HTS Coin exchange. The shopping center tried to adopt bitcoin as a means of payment earlier this year but it was unsuccessful.

The store owners were losing the private keys of their portfolio and with it their money. With the help of HTS Coin, the payments will be now handled securely through its platform.

“I think it is very significant to be able to liquidate the bitcoin used by foreigners and young people in Goto Mall”, said Chung Gwi Yeon, the CEO of Goto Mall.

The Mall is one of the largest underground shopping centers in South Korea. The average number of visitors is of 500,000 per day. The mall is located in the Seoul Metro Express Bus Terminal. It has almost 900 meters in length and it has hundreds of sores with clothes and accessories.

It is speculated that the area will continue to grow due to projects that are under development in the surrounding districts.

The adoption will have some roadblocks

By analyzing the numbers, this adoption is one of the most significant in the past months. With the implementation of Bitcoin for day to day activities, the cryptocurrency will gain in value and popularity. On the other hand, there are a few issues that need to be solved. Recently exchange platforms from South Korea have been hit by a wave of attacks coming from North Korea.

North Korea has been in the past months the culprit in many cyber attacks on bitcoin and cryptocurrency exchanges like Bithumb.

With this announcement, HTS Coin needs to improve the security measures against malicious attempts.

Another roadblock is set by the South Korean Financial Supervision Service (FSS). The regulator has stated recently that they will not regulate bitcoin in the country. Bitcoin for the moment is not considered a valid payment method although the Asian market has continued to grow even after the Chinese crackdown.