While governments toss around the idea of regulations in the crypto space, state-run businesses are adopting cryptocurrencies as a means of payment. The tourism industry was among the first ones to warm up to cryptocurrencies.
Last year, the German National Tourist Board, a national tourism marketing organization directly supported by the German government, announced it would be accepting digital currencies such as Bitcoin. All the GNTB’s services can be paid for in cryptocurrencies. It reportedly was the first time that a government-run entity has adopted cryptocurrencies.
For over 60 years, on behalf of the German federal government, the GNTB has been working to promote Germany as a top travel destination. With offices in 32 countries around the world, the GNTB develops marketing strategies, events and attractions, optimizes diverse marketing activities with partners in the German travel industry, and so on.
“Through accepting cryptocurrencies as a payment method and the possible medium-term implementation of the blockchain technology in our finance sector our international company wishes to set ourselves apart as an innovator and instigator within the tourism industry,” stated Petra Hedorfer, Chair of the GNTB Board. As we see, they also have “medium-term” plans to use blockchain technologies for processing of its international financial transactions.
The Board also noted the “interesting perspectives” in regards to the speed, transparency and security of financial transfers that the blockchain offers.
With crypto-friendly decisions from the German government like tax exemptions for Bitcoin payments Germany creates favorable conditions for Bitcoin adoption in the country. We wish Germany good luck leading Europe towards wider adoption of cryptocurrency.
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