The Caribbean region is heavily dependent on tourism for its annual revenues. Figures provided cite a total of US$ 50 billion contributed each year to the overall GDP of the region. That is why new, unique solutions keep getting brought out to make the process smoother. The latest in a long line is a strategic partnership between the Caribbean Tourism Development Agency (ADTC) and Bitt Inc. to develop a cryptocurrency-based payment solution. As per business intelligence provided by the World Bank, about half the resident population in the Caribbean region still does not have bank accounts. This is why, cryptocurrency can ease the payments process as it will make formal digital channels easier to access. This could also benefit the exchange rate implications for both imports and exports.

Source:https://www.tourism-review.com/caribbean-tourism-to-introduce-cryptocurrencies-news10560

Uploaded Date:05 June 2018