Canberra’s mobile transport app MyBus 2.0 has stopped accepting bitcoin payments following poor traction with the digital currency.
The MyBus 2.0 smartphone app, a timetable and route planner connected to the Australian capital’s bus network, removed the bitcoin payment option in January.
During the same period, he said, the number of non-bitcoin transactions amounted to 3,226.
Speaking to CoinDesk, the director spoke of the transport network’s incapability to deal with digital top ups, noting how they took up to five business days to clear.
“Our objective in adding bitcoin was to make a real-world use of the currency. In hindsight, using bitcoin on a system where the transaction takes three to five business days to reflect was a poor choice to highlight what bitcoin is all about.”
Having realised the impracticalities of the system, Bouguettaya said that his team tried to find a way of “hacking” the MyWay card, so that consumers could store their bitcoin balance – or wallet address – on it. However, the ACT Government,