Binance CEO Changpeng Zhao announced recently that Binance, in partnership with the Blockchain payment service provider TravelbyBit, intends to push cryptocurrencies closer to mass adoption. The two blockchain startups will work together to install Point of Sale (PoS) payment systems at major airports around the world.
Travelers will be able to purchase airline tickets and normal goods at airport shops using crypto coins. For now, PoS will support Bitcoin, Ethereum, Litecoin and Binance Coin. Zhao states that airports are perfect for driving forward the adoption of cryptocurrencies. He said:
“Let’s start with airports and go from there. Look for TravelbyBit and put your coins (hopefully the Binance coin or BNB) to use.”
TravelbyBit already has a strong dealer network in Australia, enabling payment with cryptocurrencies. The participating merchants can choose whether they want to keep the payments received in cryptocurrency or convert the virtual coin into a real-world currency. CEO Caleb Yeoh describes the benefits of cryptocurrencies as follows.
“Imagine traveling with multiple stopovers and only needing a single currency. We’re working with the most innovative airports and retailers who want to offer their consumers non-traditional payment options and a chance to experience cutting-edge technology.”
With the Queensland Government recognizing great potential in TravelbyBit and its positive tourism support, the company has received a $ 100,000 grant to further develop the technology and project as well as expand its services. Australia is one of the world’s crypto-friendly countries, countries that have always been open to innovation.
We are excited about open-mindedness and the awareness of innovation and hope that we will see other blockchain applications that are transforming societies such as these in other countries.
Mainstream adoption of cryptocurrencies is instrumental in boosting confidence in new generation financial services and technologies.