According to an official announcement declared August 1, the Australian state government of Queensland region will issue a grant to a crypto startup as a part of over $8.3 million of innovation funding to promote regional tourism.
The TravelbyBit: a cryptocurrency payments platform for tourism and travel industry is 1 of the 70 companies that will get Advance Queensland Ignite Ideas funding which helps entrepreneurs in Queensland in growing their businesses. The company’s goal will be to increase the number of tourists to Central Queensland by selling trip offers with cryptocurrencies and creating more employment.
Caleb Yeoh Co-founder and CEO of TravelbyBit stated that the company has partnered with Brisbane Airport Corporation to launch the “the first digital currency friendly airport of the world” and has already implemented a blockchain-backed point-of-sale system in regional tourist towns. The travelers and tourists can pay with Bitcoin (BTC), Litecoin(LTC), Dash, Ethereum, XEM and soon BNB.
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Listen on SoundCloud: Queensland Government Invests in Crypto Startup to Promote Tourism