The largest Czech hotel chain, OREA Hotels & Resorts is pleased to join the world of cryptocurrency. Our clients can now use bitcoin to pay for services at our 14 hotels across the country.
Czech innovators and investors were already heavily invested in cryptocurrencies before the bitcoin mania hit and its price ballooned to extreme heights, demonstrating the good potential for this new technology to take off here.
“Introducing bitcoin for us represents another step toward meeting the needs of the consumer head-on,” says OREA director Gorjan Lazarov. “OREA’s aim is to be the Czech market leader, so we keep up with the latest technology trends and innovations to help us contribute to the guest’s satisfaction,” he adds. Today cash-free payment is widespread, and bitcoin is the natural next step. OREA is moving with the times and opening the door to this payment revolution.
Bitcoin was launched in 2009 by a person or group using the name Satoshi Nakamoto. In the first phase of bitcoin trading, from the beginning until June 2013, IT specialists dominated the field. In 2013, professional investors started seeing the opportunities in cryptocurrency trading, and in 2017 the trend spread to general investors. It makes good business sense to expand the number of places where cryptocurrency is accepted.
What makes bitcoin so special is its complete lack of centralized control, so that neither individuals, governments nor central banks can influence its value. The total number of bitcoins is set in advance. Bitcoin is an autonomous unit of value, completely independent of traditional currencies like the crown, euro, etc. Its value – as with most other currencies – is a function of supply and demand on the market, which gives it equal economic weight. Its usefulness rests on trust that it will continue to be used for payments in the future just as today.