Coin­ing it in

Jew­ellers first to ac­cept ‘Bit­coins’:

Sale & Altrincham Advertiser - - FRONT PAGE - ABIGAIL O’LEARY abigail.oleary@men­ @Abi­gailOLeary

AJEWELLERY shop is lead­ing the way in mod­ern busi­ness af­ter start­ing to ac­cept ‘in­ter­net-cur­rency’ known as Bit­Coin.

Di­a­dem Jew­ellery in Al­trin­cham opened last De­cem­ber and is now in the process of launch­ing a web­site which will make them the first Manch­ester busi­ness to ac­cept the vir­tual cur­rency.

And on­line manager Alexander Young said the benefits of Bit­Coin could see it used as the cur­rency of the fu­ture, as more busi­nesses are forced to adapt in a mod­ernised com­mer­cial world.

Alexander, 27, said: “I think you have to re­mem­ber that in to­day’s so­ci­ety you have to adapt or die, and if peo­ple want to suc­ceed, it’s about be­ing flex­i­ble and open to new things.”

Bit­Coin is a form of elec­tronic cur­rency in­vented in 2008, which uses peer-to-peer tech­nol­ogy to op­er­ate with­out any cen­tral author­ity or banks.

Cash can be traded-in for Bit­Coin cur­rency, to use as a type of elec­tronic, on­line cash voucher on web­sites ac­cept­ing the in­no­va­tive ‘vir­tual’ money.

Alexander be­lieves that Bit­Coin pay­ments are an eas­ier and safer way for busi­nesses to ac­cept on­line trans­ac­tions via a web­site.

He added: “Be­cause Bit­Coin pay­ments are ir­re­versible, it’s more se­cure and safer. With card pay­ments, a cus­tomer might make a pay­ment and it could be done on a dodgy card, where the money hasn’t ac­tu­ally been trans­ferred.

“Some­times that can mean the busi­ness be­ing out-of-pocket in terms of the pay­ment, and also what­ever has been bought if it’s al­ready been sent out. But with Bit­Coin, that just can’t hap­pen.”

And Alexander, whose part­ner Daniel and busi­ness part­ner El­iz­a­beth run the Di­a­dem store, said it’s rel­a­tively easy for busi­nesses to start ac­cept­ing Bit­Coin, with lots of third par­ties on-hand to help.

From left, own­ers Daniel Monks and El­iz­a­beth Agius with on­line manager Alexander Young at Di­a­dem Jew­ellery

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