Bruce Currie, owner of Brisbane-based Oiian Tea Lab, on why he thinks digital currency is the future
Brisbane’s multi-million-dollar hospitality sector is embracing tap and go digital currency payments, built on blockchain technology, as COVID-19 drives demand for fast and secure transactions.
Bruce Currie, owner and operator of Oiian Tea Lab, located at Buranda Village in Brisbane’s central suburb of Woolloongabba, has acquired packages close to $150,000 in Australia’s new digital currency Qoin. He says digital currency is the future of technology and money and it made sense to him as a business owner to join Qoin. “All people want to do is tap and go. If a customer wants to pay using Qoin, I’m happy to accept it as there’s no charge.”
Unlike Qoin, most other digital currencies don’t have a real-world application, he says. “People want to go out and spend their money. I knew Samsung and Apple were bringing out digital wallets. It’s the way of the future. A lot of people, particularly my younger friends, don’t have physical wallets anymore. My son, who runs a restaurant in Bangkok, uses QR codes—no cash, all digital.”
An advocate for blockchain technology, Mr Currie joined Qoin knowing that it’s a secure payment method for his business and his customers. “For a long time, all the banks were anti-digital currency, but the whole hype around digital currency had nothing to do with blockchain technology. You can’t hack a block, so it’s a better option for business owners.”
Since taking up Qoin one month ago, Mr Currie is confident the digital currency, built on blockchain, will assist in growing his business. “Our turnover is $180,000 per year and Qoin is likely to generate an additional $30,000 per year. As they keep signing up businesses, the value of Qoin will continue to go up. “There are unlimited opportunities for merchants using Qoin. As a merchant, I embraced Qoin. If it works for me, it will work for others.”
Over the space of six months more than 7,000 small business merchants, including many in Brisbane, are now accepting Qoin, the newest digital currency, built on blockchain that offers cashless transactions. And now Brisbane is being specifically approached following research undertaken by Qoin that shows Brisbane 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 Brisbane and we have a dedicated sales team of independent agents that are in contact with Brisbane 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 in-store transactions. “With coronavirus restrictions easing, we’re seeing consumers leaving their homes and heading back to local businesses. The small business merchants taking up Qoin are ready for this groundswell of new and returning customers.”