Although Bitcoin is one of the most widespread Internet currencies, it can seem intangible compared to EFTPOS or cash.
CoinJar is a Bitcoin platform based in Melbourne which offers users a seamless way to pay for anything with digital currency. Making use of an EFTPOS card means that CoinJar isn’t only for online purchases, but can give consumers more choice about their daily purchases.
With the core intention of transforming the way money flows within and between communities, CoinJar is used by more than 150,000 customers worldwide. Techly spoke to Asher Tan, the co-founder and CEO of CoinJar, about what makes the Aussie Bitcoin biz tick.
Explain what CoinJar does, and why young Aussies should take notice.
CoinJar is a digital currency account that allows you to sell, buy, and transact in Bitcoin. We have features such as a Bitcoin-enabled debit card that makes holding even a small amount of digital currency useful.
Young Australians who spend a lot of time online will see the inherent value of digital currency both as a form of payment and store of value that is borderless and decentralised – just like the internet.
How did CoinJar start?
CoinJar started as an idea in Melbourne-based accelerator program Angelcube (now Slingshot). In our first three months, the team worked through various iterations of a consumer Bitcoin platform which then became CoinJar.
What’s been the most challenging & most rewarding aspect of running an innovative business in Australia?
The challenges are numerous and I would likely fill several tomes if I listed down every hurdle we’ve faced.
On the flipside, the Australian technology sector is still in its formative stages and the spirit of collaboration to build an ecosystem (incubators, investors, start-ups, mentors) really resonates. The idea that we are all in this together is also encouraging especially when facing challenges.
What’s the most exciting new technology you’d like to incorporate into your day-to-day?
Improvements to battery technology would make a noticeable change to my everyday life. While longer standby times for my mobile phone and laptop are obvious examples, there are also more subtle benefits when advancements to batteries are used on an industrial level.
A great example is lithium ion batteries which are being used in the proposed South Australian battery array to provide stability for the power grid.
What’s the best customer feedback you’ve received?
The best bits of feedback come from users who have been with us the longest. Seeing our first 50 users (CoinJar has >150,000 now) still providing suggestions four years later lets us know that we have been doing something right. Hopefully, they have seen us take action on feedback, and will continue the dialogue with us to make CoinJar a great service.
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