As more and more people around the world are interested in cryptocurrencies and are starting to invest, stores, shops, restaurants and cafés are increasingly accepting crypto-currencies as a means of payment. These changes occur slowly, store by store, when homeowners decide to adopt these technologies. However, in Australia, the first "big move" for accepting crypto-currencies in physical stores is underway.
In Brisbane, Australia, Brisbane Airport (BNE) has announced that it will introduce cryptocurrency payments at several stores at one of their terminals. The goal is to make the terminal welcoming for cryptocurrency enthusiasts.
The airport organization has asserted that the acceptance of cryptocurrencies has many advantages over the use of normal fiduciary money. Payments are extremely fast, sometimes almost instantaneous, and fees are low. This means that stores will have less fees to pay for each purchase, compared to a card purchase. Another great benefit for travelers is the fact that there is no need to have multiple currencies as cryptocurrencies are usable worldwide. Usually, travelers have to pay exchange fees, and suffer a bad rate if they are in their home country. This is not the case with cryptocurrencies. The airport has announced a partnership with TravelbyBit, an Australian company,
The managing director of Brisbane Airport Corporation said:
Many people in the world have invested in crypto-currencies and many of these people are traveling abroad, so it makes sense to offer a crypto experience in our terminals.
This airport action shows that large companies and retailers are increasingly open to crypto-currencies and their potential. This contrasts with recent news from four major Australian banks that reportedly frozen client accounts investing in cryptocurrencies. In the future, there will hopefully be more companies, banks and governments willing to use these currencies in our daily lives. This could be huge for travel and payments in general.