Australians Could Start Paying Bills in Cryptocurrency
A partnership between Australia’s Payment processing firm Gobbill and Cryptocurrency Exchange Cointree could enable users to pay bills in crypto. The two companies reveal that the companies receiving the payment do not need to accept cryptocurrency themselves. Gobbill would do all the fiat currency transactions as cointree handles the crypto ones.
@gobbill has partnered with @CointreeAus, enabling users from both platforms to pay household bills using a wide range of crypto coins. Gobbill users will be able to pay their bills by credit card, bank account or cryptocurrency.https://t.co/P0klGJA3DE #bills #crypto #fintech pic.twitter.com/SNM1WjBV5B
— Gobbill (@gobbill) August 20, 2018
Mr. Shendon Evans, the Co-founder of Gobbill admits that he was not up to date with the cryptocurrency notion revealing that he only started to pick up the pace at the end of last year. The company revealed that is the reason it collaborated with Cointree.
Shendon Evans said;
“I have traded, but not very successfully. That was the appeal of Cointree. I’m a novice and I’m surrounded by people at [fintech co-working space] Stone and Chalk, who are deep crypto specialists. Fast forward into the future and what we’re seeing is, like it or not, this will be part of our daily lives. Gobbill already let people pay bills from their cards or bank accounts, so now they can pay in cryptocurrency too”.
There are already certain cities in the world where bills are paid in cryptocurrencies especially the major ones, Bitcoin, Bitcoin Cash and Ethereum. The lists include cities in Malaysia, Denmark, and the Netherlands.
Advocating for Cryptocurrency Payments
Cryptocurrency has already made it possible for freelancers to receive payments conveniently; companies no longer need to have experts on site to accomplice vital task. A simple post on a freelance job board could land the company any expert required. Programmers and community moderators can now work from the comfort of their homes.
Despite the significant decline in the price of bitcoin, Ms. Rendon said it was not deterring traders;
“The market goes up and down. All of us would like a magic ball that could tell us when it will go up and down next, but we have many different customers with different investment strategies. It’s not always dependent on price dips and highs. It’s something we’re becoming used to every day and there hasn’t been a complete drop off in traders, so that’s how the exchanges are still chugging along”.
This could soon be introduced to the payment of bills too. Cointree operations manager Jess Rendon revealed that his company had its own service that allows users to pay bills in cryptos. The company revealed that last year alone it processed over $100 million in crypto bills payment, which is a 1000% growth from the previous year payments.