A Mumbai-based railway ticket office operator is planning to use cryptocurrency to pay for train tickets in the coming 2-three years, he said on Monday.
In the near future, Bhopals train station and other facilities will be utilised using the cryptocurrency blockchain, the operator said.
The company, which is one of the first companies to launch the use of cryptocurrency, has plans to set up two-three train stations at Bhopally and Kalyan stations in the city.
It has invested in the blockchain technology in the past.
The Bhopali and Kalkaji stations are currently the busiest train station in India and they handle about 4,000 to 5,000 passengers a day, according to the operator.
In a video statement, Bhatia said: “Bhopal railway station has been in existence for almost 10 years and we have been able to use the technology to pay tickets and also transact with customers.
We will be using the same technology for all our railway operations.”
Bhatia added that Bhopalis train stations would be the only railway station to be able to be paid for by cryptocurrency.
He said that he plans to start accepting cryptocurrency payments for the next two to three years.
According to a recent report by financial news portal CoinDesk, Bhojpuri Railway Ltd (Bhopals Railway) was set to receive around Rs. 3 crore (about $43,500) in blockchain-related revenue.
It is estimated that Bhojpls revenue is likely to grow to over Rs. 10,000 crore by 2021.
Bhatiya said he has invested around Rs 1.7 crore (Rs.
6,600) into the blockchain company in recent years.
He added that the company is working on an internal infrastructure that will be integrated with existing infrastructure, including trains.
Bhopalis railway station and its surrounding areas will be the next train station to accept cryptocurrency payments, the Bhopales operator said, adding that it will be possible to use cryptocurrencies in the future.