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25/10/2021

The new way Australia is doing business. And so are The Good Place…

Crypto Baby Yeah

It’s endured the rollercoaster of booms and busts, hacks, “rugpulls”, and more scams than you can count- yet more than a decade on, it’s not just surviving- but thriving. So much so that fund-managers and institutions who made their fortune on old money are getting on board while regulators hurry to figure out how they keep this under control?

We can safely say now that cryptocurrency is here to stay, and according to a recent Finder survey, 1 in 6 Australians now own some form of it. Cryptocurrency (commonly referred to as Crypto) is a code-based digital asset or digital form of currency that’s powered by blockchain technology, often referred to as “tokens” or “coins” and independent from traditional banking and government infrastructure.

The Australian Federal Government is currently seeking to regulate the industry nationally, with the view to transforming Australia into a Crypto hub to rival countries such as the UK, USA and Singapore when it comes to investment and opportunity in this growing sector. A senate inquiry is recommending changes to taxation laws, licensing and regulatory regimes to encourage crypto-asset and digital businesses to establish themselves in Australia.

Reflecting the emergence of Crypto on a nationwide level, here at The Good Place we’ve also noticed a shift in how our customers are choosing to buy with us. This past year alone, the percentage of our customers using Crypto to pay for transactions has doubled from 5% to 10%, with our leading venue taking 20% of all it’s sales in Crypto.

Considering the rising number of Australians adopting digital currency and the governments’ desire to establish the nation as a crypto hub, we’d be nuts to ignore what is happening right in front of our very eyes! We can see that Crypto is clearly the way of the future and has (already) provided people with more freedoms when it comes to their everyday shopping choices. So, we’re completely on-board with also making everyday transactions easier for you and we’re excited to announce that yes- we accept Crypto!

As of October 2021, at The Good Place we accept the following forms of cryptocurrency:

Qoin

Safe, simple and fast, Qoin is a new DC built on the blockchain, with Qoin tokens traded both B2B and B2C. Also available for daily trade on the BTX (Block Trade Exchange) Qoin tokens offer a daily buying/ selling price.

The People’s Reserve (TPR)

This can only be traded in 100% TPR transactions. This is a new currency and can’t (yet) be cashed out, but this is definitely one to watch. It’s also attracted great user loyalty and feedback so far. TPR is valued against the most recent highest price of gold and can only be traded in 100% TPR transactions.

Zipett (AUDZ)

AUDZ is a stable currency that can also be cashed out easily, making it an attractive DC for consumers. This one allows you to convert your other crypto’s (Bitcoin, Etherium etc) to AUDZ, meaning you can spend these currencies with a retailer like The Good Place for a cost of only 3% of the transaction. Also, as Zipett is treasury-backed you are able to cash out your balance into your regular bank account at any time.

Note that for the time being, our online products and event packages are capped to a certain number of customers per week. For customers who pre-book, we’re happy to take 100% Crypto, while walk-in customers using Qoin can pay 50% Qoin, 50% cash ­– but book ahead and you can pay 100% on Qoin. We accept 100% TPR up to $1,000 per week across all venues ­– so better to come earlier in the week or call ahead. However, this may well change in future as more of our suppliers join the Crypto revolution.

So whether you’re already a regular or you’ve got digital currency and looking for somewhere new you can spend it- welcome to our place! Book your table with us today.

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