Brisbane Airport Starts Accepting Cryptocurrencies
The Brisbane Airport announced its decision to start accepting bitcoin, as well as other cryptocurrencies. The Brisbane Airport is one of the biggest airports in Australia. It actually is the third-busiest airport in the country.
The Brisbane Airport said that it will be accepting bitcoin, Ethereum, as well as other cryptocurrencies at several of its retail establishments for travelers. This is the first time when an airport at the seize of the Brisbane Airport is making such an announcement. The official announcement was made by the airport, which also revealed that for the plan to work it has also decided to sign a partnership with TravelbyBit.
TravelbyBit is a bitcoin payments startup based in Queensland. The two will work together to install systems to accept cryptocurrency payments at retail stores across the airport.
Why is the Brisbane Airport interested in accepting digital currencies?
Apparently, the Brisbane Airport sees a lot of benefits in accepting digital currencies. Among the benefits that the Brisbane Airport has found for dealing with cryptocurrencies instead of traditional money are the low transaction fees, exchange rates, as well as near-instant transfer times. Of course, an important benefit identified by the Brisbane Airport is the lack of third-party oversight when it comes to peer-to-peer payments.
The General Manager of Strategic Planning and Development of Brisbane Airport stated:
“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 start-up business such as TravelbyBit, whose pioneering thinking is drawing attention to Brisbane as a serious breeding ground of innovative thinking.”
He went on to add that this might be just the beginning for the company, as it plans to expand its use of digital currencies. TravelbyBit also said that this was a good case for the use of digital currencies in the tourism industry, as it can make it easier for travelers to deal with currencies.
