Thursday, January 25, 2018

Hey, good idea

We are building a genuine use case for cryptocurrencies in the tourism industry”, Travelbybit’s CEO Caleb Yeoh stated. He also noted that the application of digital currencies in the travel sector makes a lot of sense. “Whenever you travel overseas you have to deal with multiple currencies and you never know what exchange rates the banks are charging you. We are promoting the bitcoin travel movement. Digital currency for worldwide travel. It’s simple, safe and there’s no bank fees,” Yeoh argued.
Bitcoin hedges central banks when central banks attempt the fabulous trilemma, (controlling exchange rates). The international travel industry wants a central bank neutral coin and bitcoin is it. 

Bitcoin has one competitor, the frequent traveler discount coin.  But I doubt the frequent flyer consortia really want the whole business, they just want to measure about ten percent of the airline travel costs, enough make airplane packing go smoother. So airline can sell tickets in bitcoin, but offer a 10% discount with the frequent flyer, we get mixed currency pricing, and it works fine.  Retailers been doing it for centuries.

No comments: