Brisbane Dubbed Crypto Tourism Hotspot
Australia is among the top nations supporting the development and adoption of blockchain technologies worldwide. Throughout 2018, Australia has facilitated collaborations between financial entities and corporations promoting nationwide acceptance and establishing itself as a digital currency powerhouse.
Digital Payments For Queensland Tourists
Tourism hotspot, Brisbane, looks to crypto and blockchain technology as their number one solution for progression. By implementing a system of digital payments throughout the city, TravelbyBit aims to transform Brisbane into a crypto hotspot. The startup received funding from the Queensland government helping implement a crypto POS system in more than two hundred stores across the country, up to 60% of which are based in Queensland itself. The northern Australian state draws in millions of tourists every year to visit the Great Barrier Reef.
In addition, the airport in Brisbane has officially become the world’s very first airport accepting payments in cryptocurrencies this year across thirty stores within the premises. The city is also hosting an Exhibition and Convention centre this week, offering guests crypto payment solutions for events. The northern town of Agnes Water has also been officially offered the honorary title of the nation’s first cryptocurrency town.
Hoping to further influence Australia’s travel industry with cryptocurrency solutions, TravelbyBit plans to sell holiday packages available online for crypto purchase. Queensland’s Tourism and Innovation Minister claimed that crypto technology is the tool that will help the nation attract and promote tourism in the region. The switch to crypto offers tourists various advantages including the ability to dodge steep exchange rates, avoid international credit card spending, as well as minimize the danger of carrying cash on hand.
Why Tourists Should Switch to Crypto?
The startup’s Chief Executive Officer, Caleb Yeoh, discussed the safety benefits of digital currencies in comparison to traditional credit cards explaining that cryptocurrencies offer privacy as a security option, allowing users to control the amount of money sent to a merchant knowing only the agreed upon funds can be received. Credit cards on the other hand run the risk of being stolen, or even utilize the card number to undertake fraudulent payments online without the owners knowledge.
In addition, cryptocurrency transactions are now offered in remote locations where credit card solutions have yet to be implemented. User-to-User payments could suffice for merchants in regions that lack access to international financial banking centers. Although this push for digital services is still in its early stages, the Queensland region is heading up the crypto race within the nation, with many states following the agenda close behind.