COVID-19 prompts a move away from cash, say Kevin and Ryoko Morgan of Integral Electrics QLD

Integral Electrics QLD is one of many businesses in Cairns that has responded to the coronavirus pandemic by exploring alternative currencies and has signed up to the digital currency Qoin to stimulate local business.

Run by husband and wife duo, Kevin and Ryoko Morgan, Integral Electrics QLD, which serves residential and commercial customers between Gordonvale and Palm Cove, is now accepting partial payment in Qoin.

Specialising in large apartment complexes, Integral Electrics QLD offers electrical, gate automation and security services with a focus on safety.

Ryoko Morgan says, “Safety is our priority—for the family, for the home and for the business. What we really pride ourselves on is going out of our way to serve our customers with a long-term solution that adheres to current safety standards.”

The pair say their decision to join the Australian based digital currency was a “no brainer” and they are excited at the potential of Qoin to boost the local economy.

“We definitely see Qoin as a brand new investment opportunity,” Mrs Morgan says.

“We’re really excited to connect and network with other Qoin merchants here in Cairns. In this climate, we think it’s best that we work together and that’s one of the things that we’ve been most looking forward to doing with Qoin. For a small business like us, Qoin will help us navigate our way when things are slow or quiet. It’s really important that we utilise those down times and we’ve been strategising with other Qoin merchants to see how we can all benefit.”

The pair have already engaged a number of other Qoin merchants in Cairns, including for marketing promotion of their business, and they have plans to both accept partial payment in Qoin and use it as a wealth strategy.

Mrs Morgan says, “Having a different marketing and income stream is something that we have been very interested in and was a big part of our decision to join. “We’re enjoying being a part of it.”

Over the space of six months more than 12,000 small business merchants, including many in Cairns, are now accepting Qoin, the newest digital currency, built on blockchain, that offers cashless transactions.

And now Cairns is being specifically approached following research undertaken by Qoin that shows Cairns 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 Cairns and we have a dedicated sales team of independent agents that are in contact with Cairns 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.”

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