The First “Digital Currency Town” Opens Up In Australia

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The Background Information

In a simple action to boost tourism in Agnes Water, the town has gone digital economy to increase its attraction and the number of visitors it welcomes each year.

Although the beach town itself only has 2,000 residents which live there permanently, businesses including accommodation outlets, restaurants and tour operators have now made the large step forward of being able to accept Cryptocurrencies. The town is marketing itself as the first “Digital Currency Town” in Australia with over 30 local companies offering digital transactions.

With Australia such a big attraction in itself, towns are doing any and everything possible to offer a unique selling point to pull in more customers. Agnes Water is no different but has decided to take a very big risk to entice international travellers to the area.

The Starting Point

As with many great ideas, it all began with one person with wonderful foresight.

A real estate agent was working with a local client who expressed an interest in using Cryptocurrencies in his own business in the town. After several conversations and then the realization that the nearest international airport, Brisbane, was already trading in Cryptocurrencies, the idea blossomed onto reality.

TravelbyBit – a Crypto payments start up – is responsible for the point of sale app. The company, based in Queensland, walked through the whole process with the town step by step and now a strong relationship is in place for each time the next business in Agnes Water climbs onto the digital economy bandwagon.

It did actually start off very small in the town with only a few local businesses jumping on board straight away. The fact that the owners of said businesses were international travelers themselves helped, as they were already knowledgeable on Cryptocurrencies. From here things just grew little by little and as more businesses became confident with this new generation concept, the number of Cryptocurrency transactions increased. The initial offering was 10 businesses accepting Cryptocurrency transactions with a total of 31 local businesses now onboard. All of which are very keen on taking this big step especially if it brings in more tourists to the area.

What’s It Mean?

As the self acclaimed first Australian Digital Currency Town, Agnes Water has already highlighted that it can accept Bitcoin, Bitcoin Cash, NEM, Litecoin and Ethereum.

It still is very much only the beginning for this little town and as with everything Cryptocurrency there are no guarantees on what the future holds. However, this could indeed be the start of something big for the whole country and could actually set the trend for other small towns in Australia. The town certainly has targeted a very niche market but with thousands of individuals traveling the world for lengthy periods of time nowadays, and crossing into several countries, this really could be the way forward for tourism.

It is a bold and a brave move that is for sure, but all too often in the Cryptocurrency industry especially, those taking the biggest risks are often those that gain the most. It certainly will be watch this space over the next 12 months to see how the evolution of the digital economy will affect visitors numbers to Agnes Water.

Kinsley Moore

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Kinsley Moore

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