Nowadays words “blockchain” and “cryptocurrency” firmly enter the mainstream but frequently sound on one’s lips in a mixtured tone of anxiety and excitement.
It is not a secret that the system of cryptocurrency payments backed by robust blockchain technology allows streamlining transactions while keeping the user’s personal identity private and eliminating third-party interference. It is also available for very low transaction fees, exchange rates, and transfer time.
Nevertheless due to these benefits the disrupting decentralization ecosystem is willing to bring for prominent development of financial sector, for many times blockchain technology was unfairly blamed on being used for nefarious activities like terror funding or money laundering.
However it is evident that the extent of the utility such promising innovation as blockchain technology can reach, always depends on means of exploitation. Thus within friendly environment blockchain ecosystem can only reap profits for both customers and developers.
As an example of far-reaching application, Brisbane Airport (BNE) recently has announced that very soon it will allow travelers use Bitcoin, Dash, Ethereum and other digital currencies for payments into its terminal shopping. Described unprecedented digital currency airport experience will be provided by cryptobased travel firm TravelbyBit which managed to adjust a decentralized blockchain system to airport in-terminals.
The published press release reveals that after the launch of TravelbyBit’s cryptocurrency payment system, travelers who arrive at or depart from the airport will be able to dine and shop at stores such as Botanist, Spoon, Windmill & Co., and Forte Espresso, as well as nine Australian Way, Merino Collection, Carry On, Dreamtime Journey and multiple News Travels across both terminals.
According to the Brisbane Airport public statement, this partnership was mainly aimed to promote community projects, support local businesses, improve the passenger experience, and become a leader in the airport digital innovation space.
Roel Hellemons, Brisbane Airport Corporation (BAC) General Manager Strategic Planning and Development, explained: “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.”
Additionally he stressed that the airport is proud to be the first in the world to collaborate with a small local start-up business such as TravelbyBit, whose pioneering thinking is drawing attention to Brisbane as a serious breeding ground of innovative thinking.
In the meantime, TravelbyBit stated that the launch of cryptocurrency accepting terminals for the shopping areas was only the starting point. Caleb Yeoh, CEO of TravelbyBit, said that the team has built a network of merchants throughout Brisbane who take payments in digital currencies. Currently more than 20 local providers of food, transportation and entertainment services join digital community. Followig the news, Brisbane’s Fortitude Valley has been rebranded by citizens as ‘Crypto Valley’.
Sofiko is a freelance fintech copywriter at Coinspeaker.
With a Bachelor degree in International Business and Economics, Sofiko has been deepening her knowledge of an agile innovative industry primary focusing on the robust blockchain technology and cryptocurrencies. As a bank employee, Sofiko particularly keens on crypto and blockchain integration into the established banking systems.