Opening up Queensland to digital currency tourism

TravelbyBit CEO Caleb Yeoh is inviting you to come and experience where Bitcoin takes you in Queensland, Australia. Caleb and his team are building a network of travel merchants that take payment in digital currencies like Bitcoin. Here he chats to us about taking the money hassles out of the international travel experience.

CEO Caleb Yeoh

So tell us about your idea?

TravelbyBit is opening up Queensland, Australia to digital currency tourism. International visitors can leave their cash and credit cards behind and travel to Australia with digital currencies like Bitcoin. No bank fees, no hassle with multiple exchanges rates and no risk of credit card fraud. TravelbyBit is revolutionising how people travel globally. TravelbyBit’s payment platform enables local Queensland businesses to take payments in Bitcoin and other digital currencies.

How will the Ignite Ideas funding help your business grow?

At the moment we have signed up merchants around Brisbane CBD. But where we really want to take our platform is into regional Queensland. This funding will enable us to sign up and induct merchants on bitcoin tourist routes from the city to the outback where a bitcoin traveller can find himself in an old fashion pub in a small timeless town but pay with new age digital currency. We believe this will help boost the regional tourism industry and help diversify local economies so that they are not just reliant on the resources industry. The funding will also allow us to launch international marketing campaigns targeting both blockchain enthusiasts and international digital currency communities.

How will you be putting the Advance Queensland Ignite Ideas Fund grant to use in your business? We will be using the Advance Queensland Ignite Ideas Funds to hire interns. Fresh graduates who are enthusiastic, can build a webpage, love travel and want to be part of an exciting startup should definitely get in touch! Those interested can contact us through Travelbybit.com or Investbybit.com

Do you anticipate the funding will allow you to create more jobs, and, if so, how many?

The money in global digital currency markets has swelled to over USD$150b and there’s a lot of people looking to spend their digital currencies. We are inviting a unique community of international visitors, such as blockchain enthusiasts and digital currency users, to Queensland. These are travellers who would come for the experience of travelling using a unique technology — a peer-to-peer payment system without the need of going through middlemen like the banks. Increased visitor numbers would mean jobs for local businesses.

If we can gain support from larger tourism operators such as Gold Coast theme parks, Tangalooma Resort and Lone Pine Koala Sanctuary we can service more visitors and expand faster. We can then build new bitcoin routes across the whole of Queensland and then Australia. I believe if we continue to receive support from government and the tourism industry, we can create hundreds if not thousands of new jobs for Queensland.

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Advance Queensland is a suite of programs designed to create the knowledge-based jobs of the future, drive strong innovation and an entrepreneurial culture.
 
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