The Queensland government in Australia is backing a cryptocurrency point-of-sale system that officials believe will help boost tourism throughout the area. Thus far, they have given over $8 million in Australian dollars ($6 million USD) to roughly 70 different companies that will work to inspire innovation and create new ideas within the region’s travel space.The project is headed by the digital currency startup TravelbyBit, which sells travel experiences online using cryptocurrency. The company has received over $74,000 USD ($100,000 AUD) in federal grant money to fund its new system. “Tourism is one of Queensland’s most important industries,” says innovation minister Kate Jones. “TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments. That’s why we’ve invested to help them scale-up their operations and create more jobs in Queensland.” Among the first major businesses adopting cryptocurrency payment practices include the Bundaberg Rum Distillery and Museum, which is visited by several thousand tourists each year, and the Bundaberg Airport. Thus far, TravelbyBit’s digital payment protocols have been implemented into over 150 merchants across the continent, though Queensland boasts the highest rate of adoption. Though bitcoin is its staple currency, TravelbyBit also accepts Lit... For Further Information Click on Below Button