Tag : development

BV Prime

State Government in Australia Invests in Tourism Crypto Startup

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There has been yet another major move made by Australia in the world of blockchain. Queensland is the third most densely populated state and the second largest state in size on the continent/country. The state government of Queensland is looking forward to give a grant to a crypto based startup company that focuses on tourism. The officials from the state government believe that this move will massively help boost tourism in Queensland.
The announcement was made on Wednesday by the state government of Queensland on their official website. The announcement revealed that a grant of AUD$8.3 million will be given to 70 different companies in Queensland. The funds will be given to these companies so that they can make blockchain based innovations for the state.
The announcement particularly highlighted the startup business Travelbybit, which is in Queensland. That will be, for all intents and purposes, the headliner for this major move. It has been dubbed as the startup company that will attract more and more tourists to Central Queensland. People will be able to use cryptocurriences to make online sales of travel experiences.
Tourism is The Most Important Industry
This move by the government of Queensland is only logical. The country of Australia is planning to establish a technologically advanced government by 2025. Making major moves like this allows Queensland to align their goals with the country’s goal of moving forward.
Tourism is one of the most important industries of Queensland. TravelbyBit has come up with a very good way to make it easier for tourists to pay for their purchases. The number of businesses accepting payments through the services of this startup is increasing.
TravelbyBit is essentially a point-of-sale cryptocurrency payments application. More than three dozen local businesses, resorts, restaurants, and tour operators are using this in the Agnes Water area. This town is also being dubbed as the first digital currency town of Australia. The very welcome sign for the town has labels of different cryptocurrencies like NEM, Litecoin, Bitcoin, Bitcoin Cash, and Ethereum on it.
As of now, TravelbyBit is focusing on specific cities to introduce the system that it has. They’re making use of cryptocurrencies to make it easier for people coming into cities like Bundaberg to book their holidays. The government of Queensland is investing in the company to make it bigger. They want it to grow larger in scale and create more jobs in Queensland. It has that much potential.
The government of Queensland is going to give a grant of AUD$100,000 to this startup, which will allow the company to revamp. There will be an expansion to add more merchants to the list of over 150 already registered merchants across the country.
The startup is not just stopping there. It has been enabling several retailers at the airport in Brisbane. They are now accepting cryptocurrency payments from travelers arriving or departing from the terminals now. Brisbane airport is the third largest in the country. It is also one of the busiest.
The CEO of TravelbyBit has even announced plans to add Binance Coin. This will increase the number of cryptocurrencies being accepted by the PoS platform. The CEO, Caleb Yeoh, has stated that the funds being given to the crypto startup will be used for the purpose of development. They will grow their team further and start to accept more cryptocurrencies in the future.
The startup has big plans and all of these align with Australia’s move for a blockchain based future. The state government’s announcement is a result of major blockchain movements made by the Australian government.

BV Prime

Stasis Manages to get First Institutional Client Onboard for Their EURS Stablecoin

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The CEO of a major player in the cryptocurrency world, Stasis, has recently announced that the cryptocurrency ecosystem has managed to get their first institutional client onboard with their EURS stablecoin. This is a huge move for the world of cryptocurrencies as the announcement was made by the CEO Gregory Klumov through his Twitter account.
While speaking to CCN, the CEO of Stasis said that their client is an operative in the field of money management. This makes the licensed money manager the first institutional investor to enter the Stasis ecosystem. The entry of institutional investors into the world of cryptocurrencies has been a long time coming and the EURS token is something which makes it the perfect entry point for them in the marketplace.
The Recent Slump in Cryptocurrencies
2017 was a pretty volatile year even by the standards of the highly volatile cryptocurrency landscape. It saw a lot of the major cryptocurrencies rise by hundreds of percent in their values in the second half of the year and then suddenly see their valuation drop by half towards the end of it. The start of this year has seen a still gradual decline in their prices and they have finally started to look like they are bottoming out.
There has been a lot of discussion about how the lack of institutional investors in the crypto sphere has led to all of the prices dropping so drastically but with this new development, the possibility of the cryptocurrency world moving forward are now better. The cryptocurrency world is growing gradually.
The launch of the EURS stablecoin on the Stasis ecosystem earlier in the month was done in an event where the Prime Minister of Malta, Joseph Muscat was also present. Considering the fact that the small island nation is well on its way to make itself the ‘blockchain island’ passed cryptocurrency and blockchain bills into law, this was a significant presence at the event.
The EURS token has the aim to address the increasing demand from a lot of European institutional investors who have been taking a lot of interest in cryptocurrencies. Their lack of participation before this point was their lack of trust in the liquidity of cryptocurrencies which the EURS stablecoin addresses. How? It is directly paired exactly against the Euro itself.
EURS also launched on the London based cryptocurrency exchange DSX on the 4th of July while other large cryptocurrency exchanges are expected to follow soon.