I just went to the melbourne bitcoin meet up just now – lots of people under 44 degrees weather – surprised.
The location was “The York Butter Factory” between collins st and kings st in the heart of melbourne. I couldn’t find a parking spot and was late, so I missed 90% on the first presentation (a melbournian bitcoin exchange startup).
The next presentation was interesting. It was about a bitcoin POS system startup in melbourne as well – DC POS
So how does the POS works? On a tablet for example, the shop owner enters the amount to charge,
Then as a customer, you use your mobile bitcoin wallet and scan a qr code,
You have just authorised a transaction from your wallet to the shop’s wallet. Next, wait for confirmation.
If the verification speed can be quick enough, this can be a big competitor to all major credit card companies… credit card companies have to evolve anyway because bitcoin is the future.