Brisbane becomes first Australian Airport to allow cryptocurrency transactions

Last Updated: Fri, Feb 02, 2018 16:08 hrs
Brisbane International Airport

Brisbane: An official press release from Brisbane Airport confirms that Australia finally got its first Airport that accepted cryptocurrency tokens such as Bitcoin for making transactions.

The airport was keen to offer an unprecedented digital currency airport experience to its travellers, and hence partnered with retailers on its terminals to allow transacting via Bitcoin, Dash, Ethereum and other digital currencies. The official release lists retailers on the runaway the Airport, partnered with TravelbyBit, a cryptocurrency payment system provider.

Retail outlets include the likes of Botanist, Spoon, Windmill & Co, Forte Espresso, Australian Way, Merino Collection, Carry On, and Dreamtime Journey.

Roel Hellemons, GM with the airport said, “many people around the world have made money investing in cryptocurrencies and a lot of these people travel internationally, so it makes sense to offer a digital currency experience within our terminals.

Caleb Yeoh, the CEO of TravelbyBit, the technology company that enabled the airport to go crypto, said, “we are building a genuine use case for cryptocurrencies in the tourism industry. The application of digital currencies in this sector makes a lot of sense

Yeoh also added that it made sense to travel with cryptocurrencies since travellers faced hassles with different currencies and exchange rates. “Digital currency for world-wide travel. It’s simple, safe and there’s no bank fees,” he said.

The Australia Finance Ministry does not have any reference to bitcoins or crypto-currencies, but Michael Keenan, Australia's justice minister was in news, six months ago, for proposing reforms on a potential crackdown on digital currency in the country. According to the story, published on Financial Times, Keenan sought reforms to stop "the movement of money to criminals and terrorists".

Bitcoin has already witnessed a crackdown from government agencies and lawmakers. The current week, valuations have already dipped over 30% after the Budget announcement in India, and speculations of more crackdown in Japan. Hence the news of a cryptocurrency-accepting airport comes as a pleasent surprise.

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