Queensland to Become a Hotspot for Crypto Spenders

Enjoying the beautiful coastal state of Queensland in Australia just got easier for cryptocurrency holders. More and more merchants in the area are accepting virtual currencies as payment and in doing so, are assisting the state in growing its tourism sector.

LIONBITWhether you’re getting geared up for the Great Barrier Reef or hoping to veg out on Vegemite, Australia is the country for you. Along with all of the beautiful views and unforgettable scenery, the land down under is hoping to add another attraction – cryptocurrency acceptance.

According to Finder, one of the country’s most popular states, Queensland, is ready to turn interest and intrigue into adoption with the help of TravelbyBit. The platform, which has the support of the Queensland government, makes it possible for merchants to accept cryptocurrency as payment. In addition to Bitcoin, customers can currently pay for their goods in Litecoin, Dash, Ether, and XEM.

NOT JUST LIMITED TO QUEENSLAND

Retailers in the state are not the only ones who benefit. Travelers coming into Australia, or locals who want to explore the world, can make use of the platform’s services to assist in booking their dream holiday.

TravelbyBit made headlines earlier this year when they collaborated with Brisbane Airport to allow a number of stores and restaurants in the terminal to accept virtual currency payments.

FRIENDS IN HIGH PLACES

With a cash injection of just over $75,000 from the state’s government, TravelbyBit hopes to extend their reach to many other merchants within Queensland with an initial focus on the city of Bundaberg. Known for its Bundaberg Rum, as well as its Bundaberg Distillery, holders will be able to pay for their brew in cryptocurrency.

TIPIn showing its support, the state’s Minister for Innovation and Tourism Industry Development and Minister for the Commonwealth Games, Kate Jones, said:

TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments. I understand TravelbyBit is specifically targeting places like Bundaberg – using cryptocurrency to make it easier for tourists to book holidays.

The funding is part of the state’s Advance Queensland Ignite Ideas initiative which aims to promote tourism and job creation in the state by providing financial support to entrepreneurs and start-ups.

INCREASED TOURISM AND JOBS

This ability to create an easier travel experience for people is a highly important selling point. By using virtual currency, travellers won’t have to worry about exchange rates or finding innovative ways to conceal their local fiat currency. Travelers will also be able to explore unencumbered by dubiously fashionable fanny packs stuffed with Australian dollars.

TravelbyBit’s founder and CEO, Caleb Yeoh, discussed what the government’s funding would assist with:

“With this next phase of technology, we are targeting a different brand of tourist – the tech-savvy traveller from anywhere in the world who are looking to book their travel experiences ahead of their trip and use digital currency to pay for their travels. They can now pay with Bitcoin, Litecoin, Dash, Ethereum, XEM and soon, BNB”.

Yeoh went on to add:

“We have more than 150 merchants across Australia using our system and this funding, [which will help] to develop a purpose-built platform that will accept digital currencies from anywhere in the world, will allow us to add jobs not only directly to our team but also across the broader tourism industry”.

This is, of course, not Australia’s first foray into this revolutionary industry. The country has recently partnered with tech giant, IBM, the latter of which will provide a range of services, some of which rely on blockchain technology.


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Author Nikita Blows
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