Tourism is one of Queensland’s most important industries. TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments.Australian Innovation Minister
Queensland is Australia’s second largest and third-most populous state with a total population of almost 5 million. It is also known as Sunshine State. Tourism is Queensland’s leading tertiary industry with millions of interstate and overseas visitors gathering to the Sunshine State each year. The tourism industry generates $4.0 billion annually, accounting for 4.5% of Queensland’s GSP. Queensland is a state of many landscapes which range from sunny tropical coastal areas, lush rain forests to dry inland areas and temperate highland ranges. The state government of Queensland has announced a grant to a cryptocurrency startup business to attract more tourists.
Ignite Ideas was about supporting entrepreneurs from across Queensland to grow their businesses and employ more staff. That’s why we’ve invested to help them scale-up their operation and ultimately create more jobs in Queensland.
State government, in an announcement on its official website on Wednesday, revealed details of an AUD$8.3 million grant given to 70 domestic companies looking to innovate in the region. Pointedly, the announcement pinned Queensland-based crypto payments startup TravelbyBit as the headlining act in describing it as “a startup company set to drive more tourists to Central Queensland by selling travel experiences online using cryptocurrency.”
Crypto Friendly Tourism Startup in Queensland
TravelbyBit, a digital currency payments platform for the travel and tourism industry, is one of the 70 companies that will receive the grant as part of over $8.3 million in Palaszczuk Government innovation funding. TravelbyBit enables businesses to accept payments in digital currencies like Bitcoin in a simple and secure manner. Its system is currently used by over 150 merchants across Australia. The government has recognized the startup’s potential to drive more tourists to Central Queensland. TravelbyBit was among the latest round of companies to receive Advance Queensland Ignite Ideas funding, which is part of the Palaszczuk Government’s USD $650 million Advance Queensland initiative.
With this next phase of technology, we are targeting a different brand of tourist – the tech-savvy traveler from anywhere in the world who are looking to book their travel experiences ahead of their trip and use digital currency to pay for their travels CEO, TravelbyBit
TravelbyBit is set to receive AUD$100,000 from the grant, funding which the company will ramp up its expansion to add to the 150 merchants already using its crypto-friendly platform to accept cryptocurrency across Australia. Jones said the companies supported through Ignite Ideas had products that were on the verge of commercialization, or ready to scale up for new markets. She said that the grant will help TravelbyBit to “scale-up their operation and ultimately create more jobs in Queensland.
We have more than 150 merchants across Australia using our system and this funding, to develop a purpose-built platform that will accept digital currencies from anywhere in the world, will allow us to add jobs not only directly to our team but also across the broader tourism industry
The startup has reportedly partnered with more than 150 merchants across Australia to accept digital currencies and is looking to use the new investment to expand their reach across the country and turn Australia into a more crypto-friendly travel destination for people from around the world. TravelbyBit’s point-of-sale cryptocurrency payments app is currently in use among over 30 local businesses including resorts, tour operators and restaurants in Agnes Water, a beach-side tourist getaway now billed as Australia’s first digital currency town. The town’s own welcome sign labels itself as such, with bitcoin, bitcoin cash, NEM, litecoin and ethereum highlighted as the five cryptocurrencies accepted through the payments app.
We have partnered with Brisbane Airport Corporation to launch the world’s first digital currency friendly airport and have integrated our cutting-edge blockchain powered point-of-sale system across the regional tourism towns of 1770 and Agnes Water,
TravelbyBit currently supports Bitcoin, Litecoin, Dash, Ethereum, XEM, and announced plans to add support for BNB soon.