Morgan’s Winery and Distillery at Seville in the Upper Yarra has taken on Qoin (pronounced ‘coin’), a digital currency as a way for consumers to pay for their wines.

Additionally, with China putting new tariffs on Australian wines, other winemakers could also think of going digital.

Morgan’s is the oldest winery in the Upper Yarra, with its vines first planted in 1971. It is also the only winery with a distillery, developed specifically to tap into the Gin and Vodka markets.

“We have introduced a digital currency because we see the need for our customers,” said Michele Gunther, Morgan’s joint owner.

“We like Qoin because it is Australian-based, and we know that other businesses in the Yarra are using it.

“With the new Chinese wine restrictions, we expect that wineries that rely on the Chinese market will now make a push back into the Australian domestic market and they will be looking at everything they can find to make it work.

“Digital currency is in that mix because our younger customers are very savvy in this area. I personally have had no experience in the digital currency market before. But you cannot hold back the tide and digital currency is here to stay and for us, we prefer to go with an Australian-based digital currency product like Qoin.”

In the last 11 months, more than 15,000 Australian small businesses have joined Qoin, the newest digital currency.

Built on blockchain, Qoin offers merchants and consumers an innovative and secure alternative to connect and interact.

Qoin Australia chief marketing officer Andrew Barker says “merchants and consumers are becoming more aware of the concept of digital currency”.

“Global trends indicate that digital currency is the future way to conduct business. “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.

“Now more than ever, Australian small businesses are looking for innovative ways to sustain cashflow 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 15,000 validated merchants joining the Qoin community in the first 11 months. With Qoin now launched in New Zealand and further global expansion planned in 2021, Qoin is confident that this success can be replicated in other countries.”

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