Custom candle maker chooses digital currency over cash to rebuild business

Online retailer With Integrity Candles is using Qoin instead of cold hard cash to rebuild its business after the Australian bushfires and Covid-19.

Launched in 2015 by Jim Villamor and Stephane Champagne, the company sells a range of allergy-free, handcrafted and Australian-made soy candles via its website and Etsy store. When the pandemic hit, the pair started delivering free candles to health workers and hard-hit Australians.

Now, they feel the time is right to reignite their business and they saw Qoin as the ‘no risk’ ideal opportunity to do so.

“Our aim is to be part of an internal network where we can connect with other businesses and build relationships,” explains Villamor.

“After hearing about other platforms, we knew there was something special about Qoin.”

Since joining Qoin, they have seen the value of their Qoin Wallet triple.  “There’s something psychological in that growth which builds confidence.

“There was no cash flow running through our business during the bushfires. We were stuck and that’s a place we don’t want to be forced to return to.

“Through Qoin, we’ve found a growing network and an asset increasing in value. We can use Qoin towards our business and reinvest it, as opposed to having to take cash out of our own pockets.”

In the last 12 months, more than 34,000 Australian small businesses have joined Qoin. Built on blockchain, Qoin offers merchants and consumers an innovative and secure alternative to connect and interact.

Supporting small business is the cornerstone of Qoin. The Qoin model stands apart from other digital currencies in that the value of Qoin increases as the merchant ecosystem grows. The more businesses that join the Qoin community, the more everyone benefits, providing a vital boost to local economies, says Qoin Australia chief marketing officer, Andrew Barker.

“Merchants and consumers are becoming more aware of the concept of digital currency,” he says.

“Global trends indicate that digital currency is the future way to conduct business. Now more than ever, Australian small businesses are looking for innovative ways to sustain cash flow and make the most of their down time. Qoin enables them to do both while offering a payment method to their customers that is fast, secure and virtually contactless.”

Qoin has had huge take up in Australia with more than 34,000 validated merchants joining the Qoin community in the first 12 months. Qoin recently launched in New Zealand and further global expansion is planned in 2021.