Australian State Government Invests in Crypto Startup to Promote Regional Tourism

Australian State Government Invests in Crypto Startup to Promote Regional Tourism

According to an official announcement published by the state government of Queensland in the Australian province on August 1, more than $8.3 million innovation will release the crypto startup as a part of the funding.

According to the official statement, TravelbyBit digital currency payment platform for the travel and tourism industry is one of the 70 companies that will receive advance Queensland Ignite idea funding, which helps entrepreneurs in developing their business in Queensland.

The aim of the company will be to increase the number of tourists in Central Queensland by selling travel proposals with cryptocurrencies and more jobs.

Co-founder of TravelbyBit and CEO Caleb Yeoh said that the company has partnered with Airport Corporation to launch “the world’s first digital currency friendly airport” and the regional tourist town already block-supported back-of-sale method has been implemented. According to Yeoh, passengers can pay with bitcoin, Litecoin, Ethereum, XEB.

At the beginning of this spring, German National Tourist Board announced that it started to accepting Bitcoin and other cryptocurrencies as a payment for its service. In June 2014, Irish coin was launched to promote tourism in Ireland. The aim of this coin is to promote tourism by acting as a discount voucher in the restaurants, Bars, Hotels. At press time, Irish coin is trading at $ 0.0065 with the market capitalization of $ 231,648, or 30 Bitcoin(BTC).

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