Paying in digital currency at your favourite Port Douglas businesses
BUSINESS FEATURE
Imagine, you go out for dinner with your partner at Zinc, you’re buying a present at With Sugar for your friend's upcoming birthday or you’re getting a relaxed massage at Soul Massage Therapy. But instead of paying with the usual cash or card option, you pay with a digital cryptocurrency called Qoin.
In the present day and age everyone carries around sophisticated technology in their pockets.
With just one simple click on their phone people can now pay with Qoin at their favourite businesses in Port Douglas.
In the last 14 months, more than 35,000 Australian small businesses have joined Qoin, the newest digital currency. Built on blockchain, Qoin offers merchants and consumers an innovative and secure alternative to connect and interact.
When Rene Rosenbrock and Richard Stapleton discovered Qoin last November, a few local businesses had already implemented the currency. Now there are 52 just in Port Douglas and more than 1000 in Cairns.
Ms Rosenbrock explains that it is all done through the Qoin app.
“The app has a business listing directory called ‘the Q Shop’ as well as a digital wallet,” she said.
“In the digital wallet I can buy, send and receive Qoin. In the Q-shop I can then decide where I want to spend my Qoin.
“Let’s say I want to eat a pizza at Chilly’s, which is now also part of the Qoin network. I’ll pay for my pizza by opening my digital wallet and scanning a QR-code. That way I transfer the Qoin into the vendor’s wallet.
“The owner of Chilly’s can then spend that Qoin at any of the other businesses that are part of the network,” she explains.
Qoin Australia Chief Marketing Officer Andrew Barker says, “merchants and consumers are becoming more aware of the concept of digital currency. Global trends indicate that digital currency is the future way to conduct business.
“Supporting small business is the cornerstone of Qoin. The Qoin model stands apart from other digital currencies in that the purchasing power of Qoin increases as the merchant ecosystem grows. The more businesses that join the Qoin community, the more everyone benefits, providing a vital boost to local economies.
“Now more than ever, Australian small businesses are looking for innovative ways to sustain cashflow and make the most of their down time. Qoin enables them to do both while offering a payment method to their customers that has no fees, is fast, secure and virtually contactless.
“Qoin has had huge take up in Australia with more than 35,000 validated merchants joining the Qoin community in the first 14 months. With Qoin now launched in New Zealand and further global expansion planned in this year, Qoin is confident that this success can be replicated in other countries.”
Chris Bower from restaurant Zinc started using Qoin in May last year and is very enthusiastic about it.
“I buy some of the beers and spirits for my business through Qoin and when I need an electrician to come and fix something I’ll hire one through the app as well,” Mr Bower said.
“More and more guests who come into my restaurant pay with Qoin as well. Especially with more people from down south coming up during the holiday periods. I’ve even found someone to help with upcoming renovations from within the Qoin community.”
If you own a business and are looking to join the network or find out more, please give Richard (0405147378) or Rene (0457927075) a call. It only takes 30 minutes on average and there is no cost at all.