The Cryptocurrency as a whole is going steady while the usage of Bitcoin has vastly declined as the method of commercial payment. Furthermore, Bitcoin is failing to be received as a functional payment form in the travel industry, where the Cryptocurrency players are concentrating on a better framework in order to empower the digital currency to be the supreme payment method for the travel sector.
There are certain circumstances to consider such as the purchasing of the tickets for a flight or making any travel related purchases, where people dig into their wallet in order to hunt for their credit or debit cards. Furthermore, the individuals may also pay their purchases with the digital currency such as the Bitcoin. Bitcoin is that kind of Cryptocurrency that serves the same function as the US dollars.
One of the most prominent differences that have to be stated is that Bitcoin is not attached to any of the national bank and also not managed by a regulatory body and thus offers a level of privacy to its users. The payment method with the Bitcoin is fundamentally the same as clearing the payment with the debit or credit card. If the case is that the user is paying online, he or she has to choose Bitcoin as the method of payment.
It is not a new fact that the travel industries or the travel companies used to accept Bitcoin as the mode of payment. This is because there is evidence that the travel companies like CheapAir, Expedia and airBaltic were some of the companies that used to accept payments in Bitcoin and the technology for travel system provider is Ypsilon. But later, the situation got changed due to the bad exposure that encloses the Bitcoin, discussion about the Dark Web and the fluctuations in the value have all intimidated the organizations to back off.
Also in 2014, Expedia started to accept Bitcoin for hotel payments and quite a while, they were the primary example of the standard Cryptocurrency usage. Sadly enough, in the mid-year of 2018, this has reached a sad completion when the organization chose to cease accepting Bitcoin as the mode of payment for their hotels. The most thrilling part about the “Expedia case” is that it not only relates directly to the travel industry but at the same time more extensive blockchain network as well. This is due to the fact about the similar issues which are predominant in travel and other related areas. It has been revealed that even though Expedia has dropped the payment over a year ago, others have still continued to use it.
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