Bitcoin Adoption Story — Interview with Matthew Anderson owner of ScienceSupply

Earlier this month, Blockonomics got in touch with Matthew Anderson, a passionate entrepreneur to learn more about him, his company and talk about bitcoin in general.

Matt is an Australia based entrepreneur who owns Science Supply, a company that sells Laboratory Glassware. A passionate business owner who loves technology, science and chemistry, Matt has been supplying Australia with glassware since 2012.

What kind of products does ScienceSupply sell?

Matt mentions that their primary product is Glass Tubing, borosilicate tubing, but they sell all types of general laboratory glassware, sales of which happen mostly online. Their passion for glassware is quite evident from a long line of satisfied customers. Science supply has managed to get a customer satisfaction rate of 99.8% on ebay and 99.6% on personal website.

How did Matt discover bitcoin?

Matt is one of many entrepreneurs who are accepting bitcoin as a form of payment. He first discovered bitcoin when one of his friends told him about it during one of bitcoin’s price rallies. He immediately got into it and decided to use it a form a payment. Currently about 4% of all payments made on the website are via bitcoin.

How is the Cryptocurrency market in Australia?

While talking about the general cryptocurrency market in Australia Matt mentions it’s, “slow, no real mainstream adoption yet….”, and there hasn’t been any legal difficulties that he has faced because of using bitcoin.

Are there any difficulties that are faced by accepting Bitcoin? Any legal or technical?

Cryptocurrency and exchanges are legal in Australia and it has been quite a progressive country in terms of regulating the cryptocurrency ecosystem. In 2017 they declared that cryptocurrencies were legal and specifically stated that Bitcoin (and cryptocurrencies that shared its characteristics) should be treated as property, and subject to Capital Gains Tax (CGT).

As such there is no issue that businesses face while accepting bitcoin or other cryptocurrencies as form of payment. The same has been the case for Matt and his company.

Although Matt did point out the non-reversibility feature of bitcoin which makes it impossible for transactions to be cancelled or reversed in-case something wrong happens. Matt very rightly points that one has to be careful while dealing with bitcoin as one mistake can cost you to loss money.

How has Matt’s experience been using blockonomics?

ScienceSupply uses blockonomics to accept bitcoin payments, a service he discovered online. Upon asking about his experience of using the service Matt mentions it to be, “Good, seamless”.

What is next for ScienceSupply?

Matt has worked tirelessly to make ScienceSupply a success. He has strived relentlessly to be a leader in lab glass space, meticulously crafting high-quality products for his customers but also building lasting relationships with the best glassblowers in the world.

Matt has got high hopes for his company. Whilst his company has made quite a presence by supplying top grade product, there is long road ahead. Matt mentioned he wants to build “a perfect system, that takes care of it self…”

Matt is one of the many entrepreneurs around the world who are embracing the bitcoin technology and spreading its adoption. It is through visionaries like him that bitcoin will become the currency of the future. If you are in need of premium quality laboratory glassware that go the extra mile to provide quality product head on over to ScienceSupply.