TravelbyBit Allows You to Pay for Your Next Holiday in Crypto!
TravelbyBit is opening up the world to digital currency tourism. It is a digital currency payment processor and also a specialised cryptocurrency travel booking agency. Developed for the travel and tourism industry by co-founders Caleb Yeo and Shireen Yip, the purpose behind the initiative is not only to allow users to spend their crypto on travel bookings but also to enable local merchants to accept payments for their products and services in cryptocurrencies.
Currently, the provider supports Bitcoin, Ethereum, Litecoin, and is looking to integrate other coins. TravelbyBit is rallying together different blockchain communities who share the same vision of crypto adoption.
One of the key benefits TravelbyBit provides to the cryptocurrency world is increased visibility of crypto in the community. This increased presence will help to change the common perception that there is no practical use for cryptocurrencies.
The TravelbyBit payment system differs to debit/credit card type offers in that merchants facilitate genuine blockchain transactions, as opposed to traditional banks POS systems. Additionally, it will be the merchant’s choice to receive payment in crypto, fiat currency, or a combination of both.
“TravelbyBit is looking to grow a network of innovative businesses and connect them with global digital currency users. This initiative will focus on spreading some of the economic benefits to regional tourism locations. Blockchain enabled payments can make global travel more efficient and secure by reducing the risk of credit card fraud and removing the friction of multiple exchange rates." Caleb Yeoh, CEO of TravelbyBit.
The initiative has received plenty of support from both mainstream businesses and the crypto community. The company is a recipient of the NEM community fund, which we discussed last month. The Queensland Government has awarded TravelbyBit a $100,000 share of the Advance Queensland Ignite Ideas funding to scale-up their operations.
“TravelbyBit is looking to bridge the gap between traditional business, government stakeholders and the new global blockchain economy.” Caleb Yeoh, CEO of TravelbyBit.
Brisbane Airport has partnered with TravelbyBit allowing travellers to use cryptocurrency in both domestic and international terminals. Over half of the airport's stores are now using TravelbyBit’s crypto payment system!
“Many people around the world have made money investing in cryptocurrencies and a lot of these people travel internationally, so it makes sense to offer a digital currency experience within our terminals. We’re also proud to be the first airport in the world to achieve this in partnership with a small local startup business such as TravelbyBit, whose pioneering thinking is drawing attention to Brisbane as a serious breeding ground of innovative thinking. This is just the beginning for us as we hope to expand the digital currency option across the business, so watch this space.” Roel Hellemons, Brisbane Airport Corporation, General Manager Strategic Planning and Development.
Fortitude Valley, now dubbed Crypto Valley by locals, is one of Brisbane’s main entertainment hubs. Several merchants in the valley have joined TravelbyBit and are now accepting cryptocurrencies as payment. There are boutique hotels and shopping, multicultural dining options, snazzy bars, and pumping nightclubs there.
TravelbyBit also helped to “launch” the first crypto-friendly town in Australia. Queensland’s, Agnes Water-1770 now has over 30 merchants that accept cryptocurrency as a form of payment. Visitors to the town can now book their accommodation, surfing lessons, whale watching tours, Great Barrier Reef tours and more using crypto through TravelbyBit.
Agnes Water-1770 was chosen to become the first crypto town as a means of helping boost their tourism. The neighbouring towns were the worst affected in Queensland during the last economic downturn and they have unique tourism assets to offer.
TravelbyBit New Zealand
TravelbyBit has recognized New Zealand as the perfect location for the first step in their global expansion. They've established their presence in New Zealand at West Coast co-working hub EPIC Westport and are excited to explore the area’s potential for cryptocurrency usage. With our country’s powerful tourism and tech industries, this initiative lays the groundwork for travellers from all around the world to come and experience the magic of New Zealand.
TravelbyBit is planning to connect cryptocurrency enthusiasts with the country’s marvellous landscape by building a cryptocurrency travel route starting at Christchurch Airport and spanning the scenic alpine train ride to the west coast. Along the route, a range of accommodation providers and bars will accept payment in digital currencies. This off-the-beaten-path route will attract a unique kind of digital traveller.
“The opportunity here to be at the forefront of financial transaction change globally is exciting. Cryptocurrency is a revolution comparable to the communication revolution from handwritten letters to the current acceptance of email. The West Coast can really demonstrate its appetite for diversification and change by embracing TravelbyBit and digital currency.” Garry Howard, Mayor of Buller.
Disclaimer: The above references an opinion and is for informational purposes only. Do not take this as personalised financial or investment advice. The opinions expressed by the author do not represent the opinion of BitPrime.
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Last updated: 22/08/2018