BTC $10201.43 -5.38%
ETH $187.70 -5.89%
XRP $0.266999 -4.26%
Witnessing the digital breakthrough

Australia to become a trendsetter in the crypto tourism

06 August 2018 16:07, UTC
Australia to become a trendsetter in the crypto tourism
By Oleg Koldayev

The idea of a transboundariness of the crypto, which is being discussed a lot at different IT-forums, has become a real embodiment. The government of Queensland, the third most populous state of Australia, has allowed circulation of cryptocurrencies on its territory. According to progressive officials, use of digital money in everyday practice will allow to develop the tourisь industry of the region.

In this case, things extended beyond the statements. Local authorities are ready to provide the grant of 8.3 Australian dollars for development of their own state application TravelbyBit. 70 companies, which wished to connect to the system of cryptocurrency payments, have received money. Among these are tour operators, hotels and restaurants located in the tourism places of Queensland. Along with them some of the outlets of the Brisbane airport will accept cryptocurrencies. Bitcoin, bitcoin-сash, Litecoin, Ethereum and about ten more popular tokens are among payment units.

“I understand that TravelbyBit is designed for small tourist towns, - the minister of innovations of Queensland Kate Jones said, - cryptocurrency can make it easier for tourists to travel on weekends and create new jobs for local citizens”.

By the way, the Australian state is not the only place in the world where one can pay tokens. In many tourist attractions of Japan bitcoins are accepted, and one of the restaurants in Thailand has been accepting cryptocurrency as a payment since 2014.

Queensland’s initiative can serve as a good illustration of macroeconomic tendency: entertaining industry, tourism, and art-market accepts innovations much easier that the sector of real economy. Although the price of losses is not lower there. Moreover, money is going to digital economy mainly from these areas and not from industry or banking, which are seemingly more interested in the development of digital economy.

In developed countries investments are leaving the real sector of economy, and this is an inevitable stage of the development of post industrial society. Money is going to social capital. That is to the sphere of economy where there is no production of an additional product, but there is an additional value, expressed in the socialization of this or that brand. According to many analysts, western world will soon divide not into capitalists and workers, but into investors and support staff.

Transboundariness, supranationality, unhinderedness and speed of crypto circulation fits into this paradigm ideally. And everything that hinders socialization and communication, state boundaries, for example, must fall off the edge of the Earth. That is the alternative reality of today.

Read the best crypto news analysis here! Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake