Brisbane Airport Corporation just announced that it will soon start accepting digital currencies at retail establishments at the airport’s terminals. Brisbane Airport is the third largest airport in Australia, behind Sydney and Melbourne Airports.
Brisbane Airport Teams up with TravelbyBit
This policy change will allow travelers to use TravelbyBit–a new digital currency payment system in Queensland designed for tourists–to dine and shop at select shops and restaurants around the airport’s terminals. TravelbyBit wants to grow a network of merchants around Australia that accept cryptocurrency payments, so the company jumped at the chance to team up with the major airport. TravelbyBit currently supports Bitcoin, Dash, Ethereum, and several other cyrptocurrency options.
Why Use Bitcoin
When asked about the benefits of allowing payments to be made in digital currency, the airport pointed to low transaction fees, quick transfer rates, and the lack of third-party oversight. Three things that credit cards and cash cannot offer.
TravelbyBit echoed these acclamations: “We believe Bitcoin is changing the world. With Bitcoin, I can transfer value to you or anyone else anywhere in the world without going through a third party (like a bank). This freedom releases the creative power of society through the blockchain technology. And the added competition to the banking system reduces the costs of business and help make our economy efficient and more equitable.” The goal is to increase efficiency and enhance the customer experience.
Leading the Way
The Brisbane Airport is the world’s first airport to announce plans to integrate digital currency into their terminal shops. This new development is important because it reflects an amenable attitude towards digital currency in the region, which distinguishes the city from Indonesia, China, and Russia who have enacted measures to cripple the cryptocurrency market in their countries.
An official spokesperson for the airport stated that “This is just the beginning for us as we hope to expand the digital currency option across the business.” The airport suggested that there are many flyers out there that have some of their assets in the form of digital currency as the popularity of Bitcoin and its competitors continue to grow, and a lot of those flyers fly internationally. It, thus, makes sense to integrate Bitcoin and other cryptocurrency options into a major international airport, like Brisbane.