Cryptocurrency News

Brisbane Aims To Increase Tourism Through Wider Acceptance Of Cryptocurrency

There are a number of cities around the world where cryptocurrencies tend to be more accepted. One such city is Brisbane in Australia, who have recently been given a tourism boost thanks to the fact that cryptocurrencies have recently been enabled in a large number of places around the city.

Australia has always been at the forefront of blockchain development, especially this year. It has an increasing adoption of digital currencies, and already has deals in place between major banks and corporations.

A local start up that goes by the name of TravebyBit has an aim to turn Brisbane into a crypto haven, especially for travellers, and have been given a grant by the Queensland government in order to achieve this.

This transformation has already started, with Brisbane’s airport becoming the first to accept cryptopayments in over 30 outlets within the terminal building. Furthermore the Convention and Exhibition Centre is now allowing customers to use digital currencies to pay for events. These are two hugely influential buildings, so other smaller companies are sure to follow in the near future.

The start up of TravelbyBit will begin to expand on this cryptocurrency acceptance by selling travel packages online that can be bought using cryptocurrecies. It is the hope that bringing in crypto will give Queensland the boost in tourism that it needs.

There are a huge range of benefits that using crypto can bring travellers, one main example is that it can eliminate the inflated exchange rates for buying AUD. Plus, tourists will no longer have to carry around large sums of cash, and will prevent credit card fraud.

Although the start up and the idea is still only in the early stages of development, there is still a good deal of progress. Brisbane airport, for example, is averaging around 50 cryptocurrency transactions every week, and is a number that is set to grow with time.

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