Crypto has the potential to impact every aspect of society, including how we travel. It’s a revolutionary technology that can ultimately revolutionize the way we live our lives. Let’s take a look at how crypto is easing international travel, and how you can use it to your advantage.
Globalization is influencing travel
The world is becoming easier to get around, and people are traveling to increasingly remote areas that may not be equipped to handle an influx of tourists. Often, travelers are taken aback when they arrive in a place that lacks access to ATMs, or reliable ways to pay for goods other than cash. Cryptocurrencies can change that.
Crypto is accessible to anyone, anywhere, provided that they have signal. Crypto means that you don’t have to schlep the local fiat currency around with you, or search for the best exchange rates for days on end.
Products like Tap enable you to trade, store, and pay with your crypto wherever you go – revolutionizing the way that we travel.
The crypto revolution
According to new research, the number of people who own mobile phones around the world is rising. Ownership levels in developing countries are highest in Vietnam, where 97% of the adult population own one. Jordan, Tunisia, Colombia, Kenya, Lebanon and South Africa see 90% of adults with a phone, while ownership is lowest in Venezuela, India, and the Philippines – where around 70% of adults own one.
This means that essentially 85% of the developing world are crypto-capable. All that’s really needed is a smart phone and internet connection. In the future, more local businesses, hotels, and shops in these countries will set up crypto wallets, enabling them to accept global payments in a matter of seconds (obviously depending on the coin of choice).
This may happen faster in the developing world than elsewhere, as demand for convenient and reliable payment solutions is on the rise.
A growing industry
Crypto is easing international travel and contributing to a growing industry. The travel industry is set to coin a cool $1.7 trillion in 2020, making it the second-fastest-growing industry in the world. Now, cryptocurrency is making travel to remote areas, a growing demand, all the more possible.
Of course government collaboration is paramount. Brisbane airport in Australia, is the first in the world to accept cryptocurrency at 30 merchants. In fact, Queensland itself is a trailblazer in the crypto world. Agnes Water, a town located at the south of the Great Barrier Reef, has more than 40 businesses that accept Bitcoin. This kind of initiative is precisely what is required from governments and businesses in order for the crypto to help grow the travel industry.
— Linkup America 🇺🇸 (@linkupus) March 9, 2020
International travel on the to-do list for crypto
Now that we’ve taken a look at how crypto is easing international travel, it’s clear that it has the potential to revolutionize the way we move around the world. Crypto can make traveling easier and more accessible, and bolster tourism industries in developing countries. Payment solutions offered by crypto companies could very well take over, as more and more tourists demand easier payment options.