(AUSTRALIA)

Over $5 million in bills have been paid by Australians in bitcoin thanks to a FinTech startup.

The superbly named Living Room of Satoshi is a young Brisbane-based company that wants to put the cryptocurrency to practical use. And it allows people to pay any bill with it that can be settled via the popular BPay payment platform.

Lots of people have used it for credit card payments and for a whole variety of other things, including gas bills, school fees and entertainment.

“As the first truly international, decentralised and peer to peer currency, Bitcoin is perfectly suited to bill payments in Australia,” he told Business Insider Australia.

And what of that name, Living Room of Satoshi?

“Our company is named in honour of Satoshi Nakamoto, the mysterious and pseudonymous creator of bitcoin. Nobody really knows for sure who he is, or what he is doing now. But we like to imagine that when Satoshi has a bill to pay, he kicks back at the end of the day and pays it in his living room. Hence “Living Room of Satoshi,” the company website says.