Tokentools Pty Ltd is the first welding equipment and supply store in the world that is accepting Bitcoin (BTC). In a move that demonstrates their confidence in this emerging decentralised commodity Tokentools hope other vendors and parts suppliers follow suit.
Whilst Bitcoin is only 4 years old it has reached an an exchange rate in excess of $500 Aud in recent trade according to figures obtained from the online Bitcoin exchange MTGox. With the surge in popularity amongst Chinese investors Tokentools aims to position itself to benefit from Bitcoin trade in the coming years. Often cited as the greatest barrier to mainstream adoption, bitcoin’s difficulty for non-tech savvy users has historically limited the number of participants in the bitcoin economy. Over last few months, significant advancements have been made in that realm by entrepreneurs building interface layers on top of the bitcoin protocol.