00:32 GMT +319 June 2018
Listen Live
    Souvenir coins with the cryptocurrency logos of Bitcoin, Litecoin and Ethereum

    Tourist-Friendly Australian Town Fully Embraces Digital Currency

    © Sputnik / Evgeny Biyatov
    Business
    Get short URL
    112

    The initiative is aimed at attracting more visitors and making it easier for them to buy goods and services.

    Agnes Water, an Australian tourist town, has declared itself the first "digital currency town" as it now accepts payments in digital currency along with ordinary credit cards and cash, Chepicap reported.

    The initiative was launched by a local start-up TravelByBit and is aimed at attracting more tourists to the area.

    "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… Traveling with one global currency like Bitcoin… makes sense," Caleb Yeoh, CEO of TravelByBit, said.

    Last week, the company released a new app which allows travelers to make payments in digital currency in shops at Brisbane Airport.

    READ MORE: Quebec's Flip-Flop Policy on Cryptocurrency Mining Takes Another Turn

    Although Australia has not officially accepted cryptocurrency as a means of payment, over 30 stores in Agnes Water have fully embraced the new concept.

    Related:

    India Declines to Buy Venezuelan Oil With Petro Cryptocurrency Despite Discounts
    Cryptocurrency Installed Into Banking System: 'It Will Rule the Sphere' - Expert
    Floating Island in Polynesia to Have Green Tech, Its Own Cryptocurrency (PHOTO)
    Tags:
    cryptocurrency, tourists, town, business, payment, Australia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment