You can now purchase items at the Brisbane airport using Bitcoins. The initial announcement that came out in January said that Brisbane Airport authorities have announced plans to use cryptocurrencies as a medium of exchange on all the outlets in the airport premises. The airport’s administration said, “the reduction of customer inconvenience due to the requirement of carrying multiple currencies and credit cards.” While the value of Bitcoins is falling, a move like this will enhance its value again.
The payment system has been developed by a Brisbane-based fintech startup called TravelbyBit. Reportedly, TravelbyBit has received more than $85,000 from a commercialization assistance fund. This has helped to develop a system which will be used by customers to pay using Bitcoins or any other cryptocurrency. While the merchants can also choose cryptocurrency or real currency in which they want to receive the money.
The General Manager of Strategic Planning and Development of the airport said that this step has been taken while keeping in view the number of crypto investors worldwide. He also added that he is proud of the Brisbane airport for being the first global airport which has worked with a local startup to bring the service to the table. TravelbyBit is also working on a tourist map route which has all the businesses listed that are accepting Bitcoin as a medium of exchange in the famous tourists’ spots in the country.
There are 30 outlets in Brisbane airport which are using the new system. The CEO of TravelbyBit said that they will launch their service all over the country. The only thing that is holding them back currently is the lack of trained staff of retailers. He said that this initiative can prove to be very vital in establishing Bitcoin as a method of payment instead of keeping it as an asset.