Digital currency is simplifying our accounting, says restaurateur Jaz Virk
Restaurants throughout the coastal suburbs of northern Sydney are going digital.
Jaz Virk, along with his business partner, Tony Minhas, have joined Australia’s newest digital currency Qoin to give their diners another payment option in their three Sydney restaurants.
The duo who own and operate The Indian Joint in Collaroy and another two restaurants in Dee Why, The Dodgy Indian and The Nepalese Joint, are excited to embrace Qoin and expect it will be very successful.
“I’ve always been interested in digital currency but had zero knowledge on how it works. After researching Qoin, I felt confident in it as it’s backed by serious players who have a lot of experience,” says co-owner Jaz Virk.
“I thought Qoin was worth and try and my business partner backed me. Unlike other digital currencies, Qoin is very carefully thought out. It’s very easy in terms of payments and it will help to simplify our accounting.”
In October, the pair will celebrate six years since opening their first restaurant doors, which has grown to three restaurants and more than 15 staff.
Mr Virk says, “It’s the Indian philosophy. We’ve been very lucky. We’ve had a lot of local support, even during COVID-19, and our hard work has paid off. I’m excited to be on board with Qoin.”
In money terms, says Mr Virk, a dollar is a dollar. “Qoin itself has a separate value that increases. I’m definitely going to use the platform and spread the word. The more people that use Qoin, the more it will grow. In a period of time, I’d like to invest in Qoin. I’ve always wanted to invest in digital currency.”
He believes that Qoin is a safer bet as it is a “lot more transparent”. “I’ve been very happy so far and it’s going to be a good experience. I hope it gets to a point where it makes things easier and helps me financially.”
Over the space of six months more than 7,000 small business merchants, including many in Sydney, are now accepting Qoin, the newest digital currency, built on blockchain, that offers cashless transactions.
And now Sydney is being specifically approached following research undertaken by Qoin that shows Sydney businesses and merchants are keen to get involved in digital currencies.
Qoin Australia Chief Marketing Officer Andrew Barker says, “We have done our homework in Sydney and we have a dedicated sales team of independent agents that are in contact with Sydney businesses.
“The current economic climate off the back of COVID-19 has encouraged many businesspeople to open their eyes to new ways of doing business and that includes digital currency.”
Mr Barker says the time is ripe for digital currencies, like Qoin, as coronavirus has paved the way for small businesses to consider digital currencies to attract new customers and facilitate instore transactions.