Australia’s First ‘Digital Currency Town’ Accepts Bitcoin to promote Tourism 12075
News
Roshni Vayyapuri
Jun 5, 2018 at 2:40 PM

Australian beach town Agnes Water has become the first town in Australia to accept cryptocurrency in order to attract international enthusiastic travelers to promote tourism.

More than 30 local tourism business providers including hotels, bread and breakfast places, restaurants, bars, and pubs are facilitating cryptocurrency payments and transactions. Recently turned cryptocurrency town has 2000 permanent residents. Australia’s first digital currency town is now accepting all the popular cryptocurrencies like bitcoin, bitcoin cash, Litecoin Ethereum, and NEM.

The initiative came from a local real estate agent Gordon Christian who started to accept cryptocurrencies after his client explored to go about processing a bitcoin payment from a customer. He was very interested to learn that the Brisbane international airport is accepting cryptocurrencies in some of their retail stores.

He shares the ideas with the local business group, “We started from the ground up, shared it with a couple of businesses and they were straight on board … I guess they were international travellers themselves and had heard of these types of payments, Initially we had a good 10 businesses that just said, ‘Fine — let’s go for it’.”

Tourism operator Arty Cipak added, “If it’s going to take cryptocurrency to get tourists to town, then bring it on.”

Currently, local businesses are accepting cryptocurrencies through a point-of-sale app that was developed by TravelbyBit, a Queensland-based crypto payments startup.

TravelbyBit CEO Caleb Yeoh said, “We’ve got merchants all over Australia but they’re very sporadic, [Agnes Water and] the Town of 1770 has the highest concentration.”

“The town has made a very strategic move in trying to appeal to a niche market to take perhaps some of those tourists … to come out to their little part of the woods,” he stated.

Caleb Yeoh further added, “If you travel around the world you have to deal with multiple currencies, the exchange rate can be confusing, sometimes you struggle to find ATMs, and sometimes you get swindled by money changers. Travelling with one global currency like Bitcoin … makes sense.”

 

Image via ABC News

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