As Bitcoin and other cryptocurrencies build their reputation, more and more companies and organisations are taking the leap and accepting digital coinage as payment for their goods and services.
Most recent among these is TapJets, a company based in Houston, Texas, that hires private jets to its clients. Already innovators in their field, TapJets have developed an application for their customers to book their private jet instantly over their smartphone or other mobile device, and now have set foot into the altcoin arena, accepting payment in the major digital currencies, Ethereum and Bitcoin.
TapJets started taking Bitcoin as payment in July of last year and saw a steady increase of transactions in the cryptocurrency to book flights through their app, with numbers tripling month after month. Following this initial success with the industry leader, the company announced this week that it now accepts payment in Ethereum, another high-ranking altcoin.
In his press release, the CEO and founder of TapJets, Eugune Kesselman, said that the main selling point of the cryptocurrencies, from the company’s point of view, lay in the instantaneous nature of its transactions – a vital consideration for such a high-end commodity as private jet hire. The time taken to process a credit card payment or to wire funds from a bank for such a large purchase can prove an inconvenience for customers and a potential liability for the business. Instant payment, thanks to Bitcoin and Ethereum’s revolutionary blockchain technology, not only speeds up the transaction but offers added security to both client and recipient, as it provides an accurate paper trail for the transaction, should any issues occur later down the line.
Kesselman believes that filling in forms to transfer money from your bank in order to pay for a luxury service like that provided by TapJets is an antiquated notion, completely at odds with developments in both finance and travel.
Time will tell if other companies agree with him, and follow suit.
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