The government of Queensland, Australia's second largest and third most populous state, will begin supporting local cryptocurrency startups that it believes will boost tourism in the state.
An announcement on the government's official website mentions an A$8.3 million grant that has been distributed to 70 domestic companies developing tourism in the region. The announcement highlighted Queensland start-up TravelbyBit, which is described as “a start-up company that will attract more tourists to Central Queensland by selling holidays online using cryptocurrency.”
Kate Jones, Queensland Minister for Innovation, said: “Tourism is one of Queensland's most important industries. With TravelbyBit, visitors to our state will be able to pay for holidays and services at a growing number of establishments using cryptocurrency.”
Using the TravelbyBit payment application, you can pay for services at 30 commercial points in Agnes Water, a coastal resort called “Australia's crypto-town.” This is also written on the city stele, which also bears the emblems of the cryptocurrencies that accept local payment systems - bitcoin, bitcoin cash, NEM, litecoin and ethereum.
TravelbyBit will receive a grant of 100,000 Australian dollars, which will be used to expand the company and add 150 more private entrepreneurs who use its PoS cryptocurrency platform so that they can accept payment for their services throughout Australia.
According to CCN, the startup is also collaborating with Brisbane Airport, which now accepts some cryptocurrencies as a means of payment at its terminals.
TravebyBit CEO Caleb Yeog said that the PoS platform will soon support Binance Coin, and confirmed that the funds received from the government will be used to expand the development team and further develop the platform.
He said: “Over 150 merchants in Australia use our system, which allows them to accept payment in cryptocurrency from anywhere in the world. The funding received will be used to develop the platform, which will help create many jobs not only in our company, but throughout the tourism industry.”.
According to ccn.com
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