Australian cryptocurrency exchange, Cointree, has come together with renowned billing-provider Gobbill to make utility payments much more streamlined and hassle-free.
However, what really stands out about this partnership is that customers will be able to make all of their payments via cryptocurrencies, thus introducing the average Aussie citizen to a whole host of new and exciting business opportunities.
More about the venture
For years now, crypto enthusiasts and investors throughout Australia have been calling for local tech companies to develop a platform that would allow them to make their everyday payments via digital currencies.
Now, Cointree and Gobbill have joined hands to foster a system that promises to enable alt-coin payments for everyday purposes such as:
Electricity, Heating, Water bills.
Shopping– Online as well as physical purchases.
With that being said, it should still be remembered that most crypto assets are still subject to major price swings. For example, since December last year, the price of Bitcoin has plummeted by over 65%, thus raising various questions as to how the developers of this project will ensure timely transactions without any loss of money for their customers.
Gobbill, the company that will be looking after all of the billing services, claims that “irrespective of whether a company accepts crypto payments, they will ensure that all fiat-crypto transactions are carried out smoothly”. Not only that, if a customer so chooses, he/she still has the option to complete their transactions using conventional banking methods including credit cards and cash transfers.
While there already exist payments solutions such as ‘Living Room of Satoshi’ that offer customers with similar services, more competition within this space is always a good thing.