Hubud (Hub-in-Ubud), an Indonesian coworking space in Bali, has announced that it is accepting Bitcoin payments from today. Bitcoin has enjoyed growing acceptance as a payment method since its inception in 2009. Given this growth, many businesses are easing into its adoption, much like Hubud.
Growing interest towards Bitcoin is observed in Indonesia, and especially so in Bali, a major tourist destination. With Bitislands.com launching as a collaboration between Bitcoin Indonesia and Coin of Sale to promote Bitcoin as a payment channel for tourists, Bali could become a Bitcoin Island as merchants adopt it island-wide.
Hubud members can now purchase memberships, and pay for products (e.g. clothing), events and excursions using Bitcoin. The decision to adopt Bitcoin was made as part of an eﬀort to cater to the growing demand among Hubud’s community for Bitcoin adoption, many of whom are mobile entrepreneurs and engaged in digital enterprises.
Peter Wall, Co-founder of Hubud, commented, “Our growing community of digital nomads lives, works and plays all over the world. Many get paid for what they do with Bitcoin, so we are happy to support our members when they land in Bali by accepting it directly for everything we oﬀer. Bitcoin is now good as gold here at Hubud.”
Also Read: Will Bitcoin’s regulatory future resemble Linux?
By accepting Bitcoin directly, Hubud provides the members a way to bypass the costs and difficulties posed by conventional payment channels (e.g. telegraphic transfers). Prospective members can pay in-person or via the internet . This enables near-instantaneous money transfers, as well as security and privacy, with transactions being recorded on the blockchain and accessible for review.
Noting the increasing proliferation and adoption of Bitcoin, Ivan Condric, Operations Manager of Hubud, shared that it was pragmatic to accept Bitcoin at Hubud, citing its simplicity and affordability as major factors driving its adoption.