25 Jan The First Labour Hire Company to Accept Bitcoin in Australia

Hunter Labour Hire Sydney Now Accepting Bitcoin Payments!

We are always keeping an eye on the latest trends in technology and developments both in and outside the construction industry. We are always looking for new ways to make our business more accessible and more secure for our customers. Accepting crypto currencies such as Bitcoin as an alternative payment method is making sure we are keeping on top of this revolutionary economy.

So, what exactly is Bitcoin?

Bitcoin is a cryptocurrency and a global payment system. It is a decentralized digital currency which means it is not issued by central bank or issuing authority. Bitcoin first came on the scene in January 2009 when the mysterious Satoshi Nakamoto issued his whitepaper and started the Bitcoin blockchain. Since it launched the Bitcoin blockchain has never been hacked or had any issues – that is 9 years and counting!

What is Blockchain?

Ultimately Bitcoin utilizes a technological game changer called blockchain which allows for an immutable decentralized ledger to keep track of all transactions securely, quickly and cheaply without the need for any 3rd party oversight. That is to say, via Bitcoin or blockchain tech, you can send data or currency to anybody, anywhere in the world without needing a bank or 3rd party in the middle to help with the transfer.

Why are Hunter Labour Hire Now Accepting Bitcoin?

You could be forgiven for thinking that accepting Bitcoin payments is a publicity stunt given the current hype but that isn’t the case. At Hunter Labour Hire we believe that Bitcoin payments offers many benefits to our customers and these reasons are listed below. Couple that with our forward looking mentality and the growth of crypto currencies here in Australia (with the likes of Power Ledger changing the renewable energy game and winning government funding), accepting Bitcoin is a no brainer. Here are some more reasons why we are now accepting Bitcoin!

1. Lower Transaction Fees – Traditional Methods of payment such as via credit card which can cost 2.6%. However by accepting Bitcoin payments we hope to bring this fee to lower than 1%.
2. Faster Payments – on average Bitcoin payments currently go through in about one hour. This is a lot faster than the equivalent bank transfer (EFT) which can take a couple of days
3. Increased Security – When transferring payment via Bitcoin the payee is not required to send any of their personal details such as name, address or bank account details. This means there is nearly zero risk of any of fraud being committed if data does get breached through nefarious cyber means.

Facts about Crypto Currencies

• Bitcoin was founded in 2009 by an anonymous person under the pseudonym Satoshi Nakamoto, his true identity is still not known to this very day.
• There are 24 Bitcoin ATMS throughout Australia, 6 of which are in Sydney.
• Bitcoin can now be used to purchase many things including real estate such as this property Victoria.
• While Bitcoin is the most recognizable crypto currency. Some Australian companies have produced their own cryptos such as Powerledger which is currently being trialed Fremantle WA.
• Blockchain is being touted by technological evangelists to be just as important in the coming years as the Internet of Things and Artificial Intelligence. These will all have big impacts on both the construction and recruitment industry alike.

Is Your Construction Company Ready for the Crypto and Blockchain Revolution?

Cryptocurrencies & blockchain technology will revolutionize many industries. Is your business going to be accepting or making payment in Bitcoin in 2018? Or will your business be using blockchain technology for streamlining other work processes in the coming months? If so we would love to hear from you!

If you are an existing client and would like to make payment via Bitcoin this is our BTC address 1MXzypnGiNQaPcuJfwQRuZtoRpARck48WT. Or if you are looking for an innovative, progressive labour hire company to assist with all your hiring needs then call us today on 02 8985 2019, email info@hunterlabourhire.com.au or contact us online for more info!