Australian lawyers accept Bitcoin as valid currency

Technology continues to amaze us and revolutionize the way we interact with the world. For those slow to embrace change, technology also can be challenging. Challenges include gaining a basic understanding of new technology, its impact on our daily lives, the security threats it can pose, its functionality, and so on.

The legal fraternity has made it first foray into the use of Bitcoin as payments for services rendered. LegalVision, an Australian legal service provider, is the first to allow its customers to pay for legal services with Bitcoin. Bitcoin is a decentralized digital currency and allows users to transfer money on the Internet without using a bank. It also allows users to transact with each other directly. LegalVision installed Bitcoin support on January 21. LegalVision chief executive Lachlan McKnight said he was interested in using the crypto-currency because it fitted with the online firm’s emphasis on efficiency and innovation.