Beginning on 1st May, a group of businesses in downtown Cleveland, Ohio, will begin accepting bitcoins for payment as part of a project dubbed 'Bitcoin Boulevard US'.
Chand also stressed the benefits the project would have for the local community, stating:
Bitcoin acceptance from the ground up
Following the success of that initiative, Chand began reaching out to other local businesses about the possibility of conducting more bitcoin payment integrations in the community.
So far, he has confirmed eight businesses for the 1st May launch, with more expressing interest.
Part of the process of getting Bitcoin Boulevard US off the ground has been communicating with state regulatory agencies in Ohio, including the Ohio Department of Commerce's Division of Liquor Control.
As several participant merchants run bars, maintaining lines of communications with license-issuing agencies was a major focus for Chand. He cited a lack of information among some regulators, but noted that the response has been cautiously positive overall.
Chand said that he expected a level of misunderstanding because there are no legal provisions regarding bitcoin and other digital currencies.
He added that state agencies have been receptive overall and that the process has been an important one for the future of digital currency adoption.
Merchants positive ahead of 1st May launch
Doug Katz, owner of The Katz Club Diner, told CoinDesk that the project grew out of the local business community's already strong ties. He said discussions among other owners in the area began after The Wine Spot's integration.
Katz added that he believes other businesses in the area will begin accepting bitcoins as a form of payment in the future.
Chris Armington, owner the Tavern Company, told CoinDesk that he hopes the idea creates more interest in the Lee Street community. As a business owner, he said the transaction process was easy and that the cost reduction could be "huge".
Adam Fleischer, owner of The Wine Spot, said in an interview that Bitcoin Boulevard US is a boon for both consumers and merchants.
Business views on bitcoin take shape in US
Small businesses in the United States are slowly but surely coming around to the idea of accepting bitcoins as a form of payment.
Recently, several business owners spoke with CoinDesk about their experiences following bitcoin payments integration. They cited what some Lee Road merchants told CoinDesk – that bitcoin acceptance has opened doors to new customers who might not have visited otherwise.
As more small businesses embrace bitcoin, Congressional lawmakers have begun exploring the implications for merchants that use digital currencies. Last month, the US House of Representatives committee on small business held a hearing on the benefits and risks for companies that get involved with bitcoin.
Images via The Wine Spot and Bitcoin Boulevard US
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