TravelbyBit enables businesses to accept Bitcoin
One travel technology startup in Australia invited the co-founder of Apple, named Steve Wozniak to Agnes Water and Town of 1770, which are the first digital currency towns in the country. TravelbyBit, which is a Brisbane-based startup, extended the invitation after the American inventor expressed his intentions to travel the world with the use of nothing but Bitcoin. The company, which actually enables businesses to accept Bitcoin and helps travelers to explore the world on cryptocurrencies, recommended Wozniak, the co-founder of Apple, to use their portal to book flights to the beach towns in the Central Queensland of Australia.
In a broader context, the tweet also helped people to understand the cultivating ecosystem of cryptos. The willingness of Wozniak to travel on cryptocurrencies reflects the demand of a majority of the crypto holders, i.e., to utilize Bitcoin in order to make purchases in real-time.
At the same time, the inclination of TravelbyBit to meet the demand by enabling merchants to accept cryptocurrencies completes the circle of one of the primary use cases of Bitcoin.
Agnes Water and Town of 1770 have more than 30 businesses that accept BTC
On the top of everything, the tweet also permits people to see the willingness of merchants and consumers to switch to some alternative payment mechanisms which are actually cheaper, as well as more hassle-free than their traditional counterparts.
Agnes Water and Town of 1770 are the first examples displaying how users are open to the ideas of decentralized payment networks such as Bitcoin. These towns have more than 30 businesses which accept Bitcoin as one of the payment methods.
If a person looks at a case study of an average tourist traveling from, for example, New York to Queensland, he is going to be required to either get an expensive traveling card, which would rip off 3 to 5% commission off every transaction, or exchange his or her USD to Australian Dollars via over-the-counter exchanges. The latter is going to charge higher commissions for a task as mere as converting the fiat.
Bitcoin becomes a global token
Bitcoin is undoubtedly solving the problem by becoming a global token which reduces intermediaries from the conversion process. A person can carry it anywhere in a digital format, as well as pay merchants by paying a normal transaction fee which is charged by the network and exchange it for some other fiat currencies at comparatively cheaper rates than OTC cash exchanges.
The CEO of TravelbyBitc, named Caleb Yeoh, said that traveling with Bitcoin is no less than moving with one global currency.
He explained that if a person travels the world, that person has to deal with multiple currencies, the exchange rate can also be confusing, and he or she can struggle to find ATMs too, and sometimes they will get duped by money changers.
Moreover, Brisbane International Airport also started accepting cryptos across terminals in a world-first at merchant locations by point-of-sale systems which are developed by TravelbyBit.
If Wozniak will accept the invitation or not, it could, in fact, accelerate a gradually-moving crypto revolution in his own way.