Crypto 101: Really! Cryptocurrency is now Accepted as Payment in Tourism Transportation.
Did you travel and you forget to bring your fiat money in your pocket? Or you are in El Salvador and you need to pay for a bus fare. What you gonna do? If we are in the year 2000, maybe you can beg for a free ride, but nothing else.
Today, we have Cryptocurrency.
This is a refresher but for newbies this may sound totally out of this world. Not really. First lets understand Tourism Transportation.
Tourism Transportation
The transportation industry has established itself as a critical component of the global network system and one of the most significant components of tourism infrastructure. Because of the different kinds of transportation accessible, it is now easier for people to go from one place to another.
Tourism necessitates the movement of people from their homes to tourist sites, every tourist must travel to access the points of interest. As a result, one of the most important aspects of the tourism business is transportation. To establish any tourist attraction, proper, efficient, and safe routes of transportation are required.
According to studies, travelers spend almost 30 to 40 percent of their vacation budget on transportation, with the rest going toward eating, lodging, and other activities. This element emphasizes the significance of transportation once more.
With the above statements, most of the transactions relies heavily on a payment system of buying a ticket, renting or paying with your cash money or if not by debit or credit card. All of this payment system was regulated or controlled by a centralized bank or a government.
What is Cryptocurrency?
Investopedia define it as “a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology — a distributed ledger enforced by a disparate network of computers.”
It is monitored and organized by a peer-to-peer network known as a blockchain, which also functions as a secure database of transactions such as buying, selling, and transferring.
A digital money that is not controlled by a central bank.
How Cryptocurrency can be used in Tourism Transportation?
First you need to have a Crypto Wallet. Read my blog with this link https://blog.cryptostars.is/nft-101-quick-guide-to-crypto-wallet-f0c8ba692033. A Crypto Wallet will enable you to pay for your transportation with a cryptocurrency.
There are a few ways that cryptocurrency is applied in tourism. It is utilized as a type of money to pay for items like rooms, food, and in some circumstances even airfare. Cryptocurrency is also used as a theme in tourism programs, such as a cruise giving expert talks and workshops conducted by digital currency specialists.
Cheapair.com, Latvian carrier Air Baltic, and Richard Branson’s Virgin Galactic have long taken the first cryptocurrency bitcoin, while GetYourGuide, a Berlin-based tours and activities booking service, began accepting dogecoin, processed through BitPay, in June as part of its entry into the United States.
What is Crypto Tourism?
It is a type of tourism that caters to cryptocurrency aficionados by providing packaged travel tours that can be paid for using digital currency or include lectures or seminars about cryptocurrency as part of the trip. In simple explanation, crypto tourism can simply be a travelers who use cryptocurrency to pay for their vacations.
Final thoughts!
It may seems that tourism is in for an exciting phase of growth. Tourism will be fueled by cryptocurrency boom. With new things introduced, there‘s adoption period wherein some may be critical to the importance of crypto in tourism. With this, I will ask your thoughts about the following:
- Do you have any idea about cryptocurrency? What is your thoughts on its pros and cons in tourism especially in transportation sector?
- In your location now, do you think the use of cryptocurrency as a mode of payment in transportation is applicable?
Sources:
About the author
Brayan Nelson is a hobby writer and currently a university lecturer while being an intern in an NFT project. On Medium, he writes about his journey of connection and education in Crypto, NFT, and the Metaverse. Subscribe to his newsletter to be the first to read his blog story. You can also reach out to him via e-mail at bnelsonsep3@gmail.com
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