The Queensland Beach Town Where You Can Pay For Your Holiday in Bitcoin
The aim is to attract a niche market of international tourists, who can pay for goods with digital currency, like bitcoin, that can be instantly converted to Australian dollars. Local real estate agent Gordon Christian said he won local businesses' support to bring the technology to the town to boost its main industry, tourism. Mr. Christian said the strategy was about bringing more tourists to the area and attracting an alternative type of traveler.This week, cryptocurrency groups and tourists from Japan will join local businesses to launch the town's campaign, which is already being promoted with a billboard welcoming visitor.
Australia is gradually beginning to accept digital currency, which is bought online and encrypted using data technology known as blockchain. The Australian dollar is currently 18th on the Bitcoin Volume by Currency index — well behind the Japanese Yen, which sits at the top of the ladder in a market that constantly fluctuates. However, cryptocurrencies are not yet regarded as legal tender in Australia, meaning businesses are not obliged to accept them.