THELOGICALINDIAN - As Bitcoin grows in acceptance added use cases for the cryptocurrency pop up every day This time an Australiabased startup has created a account that allows citizens in the country to pay their domiciliary bills with Bitcoin
Paying Bills with Bitcoin
Dubbed the Living Room of Satoshi, the Australian startup allows users to pay their bills with Bitcoin by entering the capacity of the payment, allotment a acquittal arrangement (bank annual or BPay) and sending their bill to the BTC abode shown.
Yesterday Living Room of Satoshi tweeted:
The Living Room of Satoshi’s new account supports acquittal for any blazon of utilities like telecommunications, electricity, gas, academy fees, baptize and acclaim cards. What’s added is that the aggregation accuse no added fees for the BTC payments. The account additionally appearance a point system, area every $1 spent in bills awards users with 1 point that can be angry into gifts.
Daniel Alexiuc, CEO of the Living Room of Satoshi said in an interview:
Australia is about anticipation of as a Bitcoin-friendly place. However, the country does accept a double-tax issue area the cryptocurrency is advised bargain and not money, which agency that companies charge pay both a tax back accepting cryptocurrencies as a acquittal and a goods-and-services tax (GST) back affairs them for fiat.
However, the Australian government announced plans to break this affair in March aftermost year Now, according to a statement appear aftermost week, the government is alive with the FinTech Advisory Group to break the bifold taxation problem. The account reads:
Other than the cool bifold taxation botheration which is actuality taken affliction of, Bitcoin seems to accept a ablaze approaching advanced in Australia. The $AUD currently ranks 12th on Bitcoin’s circadian trading volume with assorted BTC exchanges and Bitcoin ATMs accouterment casework in the country. Electricity is additionally cheap, acceptance citizens to admission Bitcoin through mining.
Not alone is Bitcoin calmly attainable and accepted amid the country’s citizen, Australia’s Central Coffer has additionally taken a apprehension to Bitcoin’s basal technology, the Blockchain. The coffer appear a report dubbed Developments in the Financial System Architecture. It reads:
Bitcoin is acceptable added accepted and as added bodies alpha alive with it, new and agitative use cases and casework for the cryptocurrency arise. What was already a “worthless” internet bill can now be acclimated to pay for appurtenances and casework beyond the world, acceptance merchants to save money on acclaim agenda fees and more.
So, what can you do with Bitcoin? The use cases are extensive: You can buy houses, boats, cars. You can hire a auberge allowance with Expedia or an apartment, buy millions of items from OverStock, buy allowance cards, pay your electricity bills in Japan, pay your academy charge in assorted countries (including Australia). You can alike get a Bitcoin IRA, get a Bitcoin loan, and buy and advertise gold with BTC on the Vaultoro exchange.
There’s a lot we can do with Bitcoin nowadays. So abundant that we are currently active at abounding capacity. With the basement in place, now all Bitcoin needs in adjustment to abide to abound is the adeptness to do so in agreement of scalability.
Will we abide to see absorbing use cases for Bitcoin, like the one discussed here, appearance up with time? Can the ascent issues in Bitcoin, stop its infrastructure’s progress? Let us apperceive in the animadversion section.
Images address of LinkedIn, BitcoinTalk, Pixabay
