Australia beach town, Agnes Water, in its attempt to encourage tourism, is changing and re-branding itself as “Australia first digital currency town”. This move seems to be in line with the towns true objective of attracting overall technology-savvy travelers. “Welcome to Agness Water-1770, Australia’s First Digital Currency Town” reads a board welcoming the visitors who drive into the town.
Australia beach town accepts technology
The town, which earns a maximum of its income from tourism, has readily embraced the use of cryptocurrencies. More than 30 association which includes hotels, motels, settlement service providers, restaurants, bars, travel agents etc are seen accepting these digital currencies and are enduring advanced monetary standards. These associations have been working in tandem with each other to support the tourism industry in the area and their coming together has helped the town in achieving the status of being Australia’s first which its flaunts proudly.
Neighbourhood tourism administrator Arty Cipak, of Agnes Water, was quoted saying
“If it’s going to take cryptocurrency to get tourists to town, then bring it on.”.
The businesses in the town currently allow the use of Bitcoin [BTC], Bitcoin Cash [BCH], NEM [XEM], Litecoin [LTC], and Ethereum [ETH].
Tourism industry: A front-runner in adapting cryptocurrency
Not just in Australia, a lot of countries are accepting or at least testing cryptocurrencies to boost their tourism. Caribbean nations were reported to be considering cryptocurrency to up its tourism offerings. Russia’s tourism officials have given multiple statements on the use of blockchain in transforming the tourism industry in the country. It is believed that Russian hotels will accept bitcoin payments during FIFA world cup starting this month. Another country considering the use of blockchain for tourism in Dubai.
With multiple currencies involved and dynamic pricing of flights and hotels affecting the tourism industry, cryptocurrencies do look like providing a solution to the fluctuations. Caleb Yeoh, CEO of Travelbybit was rightly quoted in this regard
“If you travel around the world you have to deal with multiple currencies, the exchange rate can be confusing, sometimes you struggle to find ATMs, and sometimes you get swindled by money changers. Traveling with one global currency like Bitcoin … makes sense.”
The Australia beach town’s zeal of using cryptocurrencies is commendable and if implemented well could set an example for not just to Australia but to the world.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.