World's First Crypto-Friendly Terminals Now in Brisbane Airport
- Brisbane Airport has partnered with TravelbyBit to make terminal retailers crypto-compatible.
Brisbane Airport (BNE) has partnered with TravelbyBit and many of the retailers located within its terminals to transform the airport into one of the world’s most crypto-friendly spaces, according to a report on the BNE website.
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TravelbyBit is a crypto startup that “design[s] tourist routes and provide[s] selected providers with [its] very own digital currency payment platform.” Travelers using the TravelbyBit service can choose to pay in Bitcoin, Ethereum, Dash, or Steem; travelers must set up and use their own digital wallets.
Certain luxury hotels, restaurants, and entertainment venues across Brisbane have also been adopted into TravelbyBit’s crypto payment network. Caleb Yeoh, CEO of TravelbyBit, said: “Whenever you travel overseas you have to deal with multiple currencies and you never know what exchange rates the banks are charging you.” He went on to say that using crypto in travel is “simple, safe, and there’s no bank fees,”
BNE Official: the Travel Industry has Potential for Crypto Adoption
Roel Hellemons, General Manager of Strategic Planning and Development for the Brisbane Airport Corporation, explained: “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.”
Hellemons went on to explain that this partnership is only the first in an effort to “expand the digital currency option” across the airport space.
Australia is Rather Bullish on Crypto
BNE’s integration of cryptocurrency is another indication of the Australian government’s rather crypto-friendly attitude relative to some of the world’s other industrialized nations.
In late October of 2017, Reserve Bank of Australia’s Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term Policy Department officials Tony Richards and David Emery told the Australian House of Representatives Standing Committee on Tax and Revenue: “The distributed and cross-border nature of digital currencies like Bitcoin means that regulation of the core protocols of these systems is unlikely to be effective.”
The pair went on to say that “digital currencies do not currently appear to raise any pressing regulatory issues.”
Brisbane Airport (BNE) has partnered with TravelbyBit and many of the retailers located within its terminals to transform the airport into one of the world’s most crypto-friendly spaces, according to a report on the BNE website.
Discover credible partners and premium clients at China’s leading finance event!
TravelbyBit is a crypto startup that “design[s] tourist routes and provide[s] selected providers with [its] very own digital currency payment platform.” Travelers using the TravelbyBit service can choose to pay in Bitcoin, Ethereum, Dash, or Steem; travelers must set up and use their own digital wallets.
Certain luxury hotels, restaurants, and entertainment venues across Brisbane have also been adopted into TravelbyBit’s crypto payment network. Caleb Yeoh, CEO of TravelbyBit, said: “Whenever you travel overseas you have to deal with multiple currencies and you never know what exchange rates the banks are charging you.” He went on to say that using crypto in travel is “simple, safe, and there’s no bank fees,”
BNE Official: the Travel Industry has Potential for Crypto Adoption
Roel Hellemons, General Manager of Strategic Planning and Development for the Brisbane Airport Corporation, explained: “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.”
Hellemons went on to explain that this partnership is only the first in an effort to “expand the digital currency option” across the airport space.
Australia is Rather Bullish on Crypto
BNE’s integration of cryptocurrency is another indication of the Australian government’s rather crypto-friendly attitude relative to some of the world’s other industrialized nations.
In late October of 2017, Reserve Bank of Australia’s Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term Policy Department officials Tony Richards and David Emery told the Australian House of Representatives Standing Committee on Tax and Revenue: “The distributed and cross-border nature of digital currencies like Bitcoin means that regulation of the core protocols of these systems is unlikely to be effective.”
The pair went on to say that “digital currencies do not currently appear to raise any pressing regulatory issues.”