It is no news that government of Queensland was the first to support TravelbyBit, a promising startup with the prospect of changing the status quo in the travelling industry.
On 1st of August, State Government of Queensland announced they have supported TravelbyBit with $100,000 because the startup could bring tourists into the state by selling travel experiences online with the use of digital currency.
After the move, TravelByBit announced it has won $2.5 million investment from Binance. TravelByBit and Binance intends unveiling a point-of-sale payment system across major airports in the nooks and crannies of the world. Through the partnership, merchants in airports are going to have the privilege to accept cryptocurrencies.
Australia-based TravelbyBit which makes it easy for merchants to receive cryptocurrency payment and also make it easy for travelers to achieve booking services with cryptocurrencies, is being celebrated across the universe since it has the potential to win mass adoption for cryptocurrency.
At the moment TravelbyBit has integrated multiple digital currency like (BTC), Ethereum (ETH), and Litecoin (LTC).
Interestingly, the platform will soon add Binance Coin (BNB) as payment option on its platform and on the PoS once produced.
Governments Decision To Invent Into TravelByBit Will Create Reasons For adoption
While some governments are frowning at cryptocurrency, the decision by the government of Queensland to invent in a crypto startup is a win-win victory for both lovers of crypto and the state government.
With this, government across the globe can emulate Queensland and begin to invest or even put trust in blockchain technology to open the space to more opportunities.
When other governments emulate the good example, the possibility that cryptocurrency will receive reception in other countries is a larger than expected. Also, it will make countries that doubt the growth of digital currencies understand that they are missing many things.