In this ever-growing era of technology, blockchain has been rapidly spreading its wings in the field of providing digital data and its distribution of information. This technology allows its users to understand the current records, update it as well as extract information of the market. The blockchain is the combination of internet, private key cryptography, and a protocol governing incentivization.
Australian shoreline town Agnes Water is charging itself the “Australias first digital currency town” with a true objective to attract overall mechanized savvy wayfarers to encourage its basic industry, tourism.
Tourism is one of the major income generators of any region, the economy of a nation is partly dependent on its exports and tourism industry. The tourism industry with the potential of manipulating an economy recently was introduced to the idea of accepting cryptocurrency in their daily transactions.
In excess of 30 adjacent associations including settlement providers, visit executives, diners, and even the area bar in Agnes Water are day by day enduring advanced monetary standards. ‘Welcome to Agnes Water-1770, Australia’s First Digital Currency Town’ examines a board in welcoming visitors driving in, with help for cryptographic types of cash including Bitcoin [BTC], Bitcoin Cash [BCH], NEM [XEM], Litecoin [LTC], and Ethereum [ETH].
Neighborhood tourism administrator Arty Cipak, of Agnes Water included:
“If it’s going to take cryptocurrency to get tourists to town, then bring it on.”
The shoreline town’s drive to get business through cryptocurrency promotion originated from Gordon Christian who began exploring the potential of cryptocurrencies after a customer, helped him to understand Bitcoin transactions.
Before the town adopted cryptocurrency, Christian found that Brisbane International Airport, a five-hour drive from Agnes Water, had begun enduring computerized monetary forms at different retails.
TravelbyBit CEO, Caleb Yeoh said:
“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. Travelling with one global currency like Bitcoin … makes sense.”
The tourism market is working towards the integration of tourism and blockchain. Countries like Russia and Australia have openly welcomed this idea of digital transactions.