As the world evolves in technology, there is a new player in the industry on the horizon steadily growing. As there has been a lot of mass adoption campaign of the crypto technology ever since its inception in the last decade, the hospitality, tours and travel industry has also in a way embraced this technology. It has been evident with a lot of people acknowledging the introduction crypto assets in form of digital currencies most known to the public as crypto currencies.
Just as any other kind of technologies that came before our eyes, there is that gradual slow process in mass public adoption. For example if we refer to the evolution of the mobile (Wireless) telephone technology to its current state, it saw a lot of criticisms and setbacks from the society, The invention of the World Wide Web (www) was only limited to emailing at the time of its inception and many that used to use the ordinary post office mailing saw that as a joke, but now the www is embedded in almost what we do online, the same applies to social media communication technology such as Facebook, which in its early days saw a lot of slow adoption due to low trust in it as those against it were so concerned about their privacy. Platforms like Facebook are now very crucial in day to day lives of many people around the world. This same notion applies to the digital assets (crypto currencies) technology embedded in cryptography.
What are crypto currencies or digital assets and what do they do?
Crypto-currencies are digital assets designed to work as a medium of exchange that uses strong cryptography also known as a block-chain to secure financial transactions, control the creation of additional units, and verify the transfer of assets. These are decentralized assets and commodities in space. With such digital assets, just like anyone else, travelers can always access their assets and easily convert them into international fiat currencies of their choice.
There are more than thousands of crypto assets well known to the public, but the most known ones are Bitcoin, Ethereum, Litecoin, Basic Attention Token-BAT, Stellar Lumens, XRP among others with each asset having its own role under a certain project that owns or founded it. You can know more about these and other digital assets via Coinbase which is one of the most trusted companies in the world of space.
With this platform, any person regardless of being a traveler or not, you can easily access your funds from digital currency to fiat currency. Just simply click on www.coinbase.com to know more how this all works. These assets can also be easily exchanged on various digital assets exchange platforms such as Binance which is one of the leading platforms. Read more about Binance on www.binance.com
Hardware wallets recommended for Travelers
Digital assets are very delicate. In that sense, one needs to know which is the most secure way to keep them without being hacked. After one has purchased these assets on the exchange platform, he or she needs to get a wallet to keep them in. These wallets can be software wallets like BRD wallet, Coinbase wallet among others, it can also be a paper wallet, However these all have their own challenges which calls in the Hardware wallet. With the invention of technologies such as the Nano Ledger Hardware cold storage devices were invented. This includes Nano Ledger S, Nano Ledger X and Nano Ledger blue, a traveler will always be assured of the stored assets that he or she can move with anywhere in the world. It is like moving with your own bank. For any information about this product and how it works with the digital assets. Please read more about this product via their website www.ledger.com
How are digital assets impacting the hospitality, tours and travel industry?
As the campaigns for mass public adoption rumps up, this has in many ways attracted attention of many companies providing tourist products and services. For example in countries where these assets have been embraced like United Kingdom’s Corporate Traveller is now accepting Bitcoin (BTC) as a way of payment which was confirmed in a press release on 15th April 2019. Using BitPay, travelers can now pay for their travel needs from this company using this digital asset. This is one among the many moves that are being observed as a positive impact of digital assets.
Australia is also among those countries that have allowed the incorporation of Bitcoin as a digital asset into the hospitality, tours and travel industry. TravelbyBit digital currency payments platform was issued a grant by the Austrailian Provincial government as a boost towards tourism in Central Queensland.
Travelers who possess these digital assets such as Bitcoin can easily purchase flight tickets online. For example airlines like Aeromexico, Air New Zealand, American Airlines, Austrian Airlines, China Eastern Airlines, Delta Air Lines, EL AL Israel Airlines, Etihad Airways, GOL Linhas aereas inteligentes S.A., Hahn Air, Japan Airlines, Luhfthansa German Airlines, Malaysia Airlines, Qantas Airways, Shandong Airlines, United Airlines and US Airways all accept Bitcoin payments to buy a flight ticket. This all has been made possible with healthy partnerships like Bitnet Partnership.
Accommodations such hotels, motels, hostels among others too can accept this kind of payment. For example in Rotterdam Hotel Van Walsum is considered the first Hotel in The Netherlands to have accepted payments in Bitcoins. Others have followed suit not only in The Netherlands but all over Europe. This mass public adoption gives hope to many holders of such assets which includes travelers. What took me by storm was my ability to pay for my cappuccino at the Starbucks in Doha Qatar with simply using my crypto-currency directly by using my phone without even converting it to fiat currency.
If anyone has used and experienced anything with this unfolding technology in the fraternity of hospitality, tour and travel and he or she wants to share with us, please feel free to comment in the comment section below. And if you find this article interesting, feel free to share as it gives us the energy to create more articles that might be of interest and importance. Keep up that spirit.
Special thanks to Aaron and Austin of Altcoin Daily for the great information about this topic and your daily endeavors to sensitize everyone by releasing information on your social networking platforms. Big respect for you both.
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