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LegalVision becomes Australiaâ€™s first legal service provider to accept payments using Bitcoin.
Wednesday, 22 January 2014 15:06
Sydney - LegalVision is Australiaâ€™s only legal service provider to allow its customers to pay for legal services with bitcoin. LegalVision CEO Lachlan McKnight was interested in using the crypto-currencies because it fitted with the online firmâ€™s emphasis on efficiency and innovation.
â€œLegalVision is a progressive and innovative business, we appeal to a new generation of business owners who see the cost benefits of getting all their legal work done online. Bitcoin is just the natural evolution of and could be the future of online payment systemsâ€ McKnight said.
â€œI love that we are the first Australian legal service provider and one of the first businesses in Australia to be using the system. I expect we will be the first of many firms in Australia to start using bitcoinâ€ he said.
Bitcoin is the worldâ€™s first decentralised digital currency and allows users to transfer money on the internet without using a bank, it also allows users to transact with each other directly. LegalVision installed bitcoin on the 21st of January, 2014 â€“ which means its customers can now pay for their legal services using the virtual currency; this means LegalVision is the first service provider in Australia to accept payment by bitcoin.
â€œWe use the latest technology so our services are as cheap and easy to use as possible. We provide online legal advice and documents â€“ so it makes perfect sense for us to start using digital currencyâ€ McKnight said.
Bitcoin has come to international prominence in the past six months â€“ being welcomed by some major banks and met with caution by some Government agencies. Chinaâ€™s central bank has banned lenders from using the virtual money, while Finlandâ€™s banking authorities have said that bitcoin is not real currency. However, many parts of the private sector have embraced the currency; for example, the Citigroup bank says bitcoin could improve society generally by making transactions easier.
Ebay UK will start allowing users to buy and sell in bitcoin on the 10th of February; earlier this month Canada had its first BitcoinATMâ€™s installed which allow people to exchange change for digital currency. On January 16 this year the National Basketball Association franchise Sacramento Kings became the first professional sports team internationally to accept payments via bitcoin.
Other major companies who also accept bitcoin payments are:
- Virgin Galactic
â€œLegalVision has been consistency ahead of the curve with its approach to technology and the way it does business. Our customers know the convenience and cost-efficiency of making the most of new technologiesâ€ McKnight said.
Mr. Lachlan McKnight - 0061 (0)427 685 636
LegalVision Pty. Ltd.
Unit 10, 35 Buckingham Street, Surry Hills