Brisbane International Becomes World’s First Airport to Accept Cryptocurrencies Across Services. Courtesy: Airlines-Airports

When the idea of cryptocurrency first spread, people generally greeted it with doubt on whether the concept would actually work. After the initial success of Bitcoin, there was still doubt that it could make the jump to the real-world economy.

But more and more businesses and industries are welcoming transactions in cryptocurrencies every day – and Australian companies are among those leading the way. And in true leader fashion, Brisbane International just became the world’s first airport to become entirely cryptocurrency-friendly.

How Cryptocurrencies Conquered the World

Bitcoin is the most famous cryptocurrency, although others such as Ethereum and Monero are rising, too. Bitcoin was invented in 2009 by a developer or group of developers known as Satoshi Nakamoto. The true identity of the developer remains anonymous and they chose to release the source code to the famous cryptocurrency to other developers in 2011, after two years of finetuning, before disappearing. The main allure of the Bitcoin project was its stated goal to produce an electronic currency that would not be subject to a central authority, like fiat currencies, but instead revolves around a decentralized system.

Encryption is the key to Bitcoin’s and many other cryptocurrencies’ success, and owners value the anonymity it provides. The main way to produce more cryptocurrencies is to “mine” them, using the power of computers and internet connections. While Bitcoin has been mainly used to amass and invest wealth, Bitcoin and other cryptocurrencies are gradually being accepted for payments in the real economy, too. Several major retailers and companies like Microsoft offer the option to purchase products and services in Bitcoin, while other industries that are traditionally active on the web, including a range of online casinos like JoeFortune, accept payments in Bitcoin.

Brisbane International Leads the Way in Crypto-Transactions

Brisbane International has tapped into the potential of digital currencies and has undergone a major transformation to ensure that it is crypto-friendly across all services offered on its premises. All shops on site as well as all airport terminals accept several cryptocurrencies, including Bitcoin Core and Bitcoin Cash, Ethereum, Dash, Nem and Steem. As Brisbane International is Australia’s third busiest airport, this sounds like a vote of confidence in cryptocurrencies as the way of the future. The airport has ensured that consumers can spend their hard-earned digital cash after preparing since January for the change.

The new model has been made possible with the help of Travelbybit, an up-and-coming payments company in Australia. Brisbane Airport Corporations (BAC) that manages Brisbane International, partnered up with Travelbybit to make use of the company’s know-how in implementing payment solutions. According to Travelbybit’s representatives, consumers can see crypto-transactions happening live on the company’s website – and people are really excited about the new system, merchants and clients alike. Visitors from all over the world are interested in how the first “crypto-friendly” airport has handled the new system. BAC aims to examine how blockchain could be useful in other processes within the airport.

As the use of digital currencies becomes more widespread, a paradigm shift seems underway in the economy – and Brisbane International is leading the way.