The regional government of the Queensland province of Australia will award a grant to a crypto start up that will become a part of more than 8.3 million dollars innovation fund.
TravelbyBit is a digital currency platform that created for the travel and tourism industry and is one of the 70 companies that will be awarded with the Advance Queensland ignite ideas fund that aims to provide support for business development to entrepreneurs in Queensland.
Boosting the number of tourists in Central Queensland is the main goal of the company that will offer travel arraignments using cryptocurrencies as payment and help the creation of more jobs.
Kate Jones the Innovation Minister has stated:
“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… I understand TravelbyBit is specifically targeting places like Bundaberg (along the Great Barrier Reef) – using cryptocurrency to make it easier for tourists to book holidays.”
Caleb Yeoh, the co-founder of TravelbyBit has uncovered that the company has partnered with the Brisbane Airport Corporation to launch the “world’s first digital currency friendly airport” and had implemented the blockchain point of sale system in the most of the tourist towns. You can pay with Bitcoin, Litecoin, Dash,Ethereum, XEM and BNB. Yeoh statement continues as follows:
“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.”