(VOTE NOW) TravelbyBit – Travel the World and pay with XEM!


#42

Hi all,

I think that in a bid to get good use cases out for NEM, having representation from all major sectors of the economy is important. NEM has already proven itself to have solutions in agriculture, big data, intellectual property, supply chain (provenance) and more.

Having a solution in the tourism and the payments industry counts for no less a use case. In fact, an initative like this could lead to many other opportunities. Like what @Trikar_Blockchain said, Australia is being proactive in considering the digital Australian dollar, removing the double taxation issue and many areas within the crypto payments space. If NEM is to use a test-country for crypto payments (and much more). Australia would be well-suited besides other countries which are exploring this.

We need to support good NEM applications with solids teams across the world, especially those who have understood the NEM blockchain technology and want to make this work.


#43

This would be productive if the hookers adopted it as a payment system.
No mate I am not joking, NEM for international hookers.


#44

Blockquote
Australia took off double taxation of Cryptos

Where did you get this information and what does this mean?


#45

I appreciate that not many people outside of Australia will understand this but the Living Room of Satoshi section of this will be huge for NEMbers in Australia. Admittedly I have a vested interest in this because of our recent community vote - what this would mean is that we could transact and ultimately pay for a lot of our development and business costs directly in XEM without having to lose a ton of it to fees.

For those that don’t know LROS allows you to use crypto to pay things via BPay, BPay in Australia is the preferred method of payment for things like Utility Bills, Rent, Mortgage / Most Bank payments and even things like Airlines and other services accept it as a payment method - the ramifications of having such a thing available in XEM is huge!

For me, knowing that we will have a travel element required for business development of LocationCore - the idea of being able to travel directly using XEM aswell is obviously a big plus!


#46


Before that You pay tax twice.
Once when you buy crypto, and then for a second time when you use it to buy goods, which are subject to a Goods and Services Tax (GST).

GST will no longer apply when purchasing goods or services with bitcoin, eth, or other digital currencies


#47

Yes NEM is enterprise-oriented, but also suited for retail transactions nonetheless!
Travelling is exactly the market where crypto will be used, as it’s convenient to avoid national currencies.
You might not see people using crypto now, but you will in 1 year, especially in Australia and SE Asia. And I would really like NEM to be a part (leader?) of this movement.


#48

Well I want to support this project because its helping encourage the use of NEM as a payment. I know there has been some concerns over the funding proposal, but i agree with Dan_V and Trikar_Blockchain’s comments.

I hope that this proposal gets the voting it requires to secure the funding. :slight_smile:


#49

Check last Alex’s video from Inside NEM , there is an interview with travelbybit after minute 6. Good explanation of the proposal and the discount fund. https://www.youtube.com/watch?v=3Bx8BGme8Ds


#50

Thanks for sharing this, it’s indeed great news and I wasn’t aware we were previously taxed twice. I only joined the crypto-bus in October last year, so I guess that’s why I wasn’t aware.

I’m not sure if you’ve seen though - the ATO is looking to tax purchases made with cryptocurrency at the capital gains rate. So if you’ve gone and bought yourself a car with some BTC, the ATO will be chasing you to pay CGT if you’ve made profit on cryptos, I hope that’s made sense.


#51

That’s a valid point you make.


#52

After meet Travelbybit team and see with my own eyes what they are doing in Brisbane I’m more convinced about this proposal.
I haven’t seen before so many places to pay with cryptocurrencies together and so many adoption there.
Australia is working in the good direction about Blockchain and Cryptocurrencies. Friendly environment, good regulation, adoption is growing. Living room of satoshi, aussies paying their bills with cryptos.
The marketing ad for nem in the Brisbane airport is going to be huge for us (20 million of passengers every year) + discount for the NEM communitiy for travel to Queensland.
I’m voting yes!


#53

After more consideration I’ve decided to support and vote yes on this project.

Even though I usually prefer enterprise and backend oriented ventures, I can see how branching out into more direct consumer facing solutions could be beneficial and help adoption. And seeing how TravelByBit already established a wider network of merchants and seeing how Australia is becoming more and more open for things like this it’s worth a try in my opinion.


#54

Not going to be worth much while xem buys .33c USD and can drop 40% in a few days.
Your holiday will be cut short if price dumps like it has repeatedly done.
I wonder why you would promote such a venture in times when it is clear that xem does not stand up to even short term international exchange values.


#55

This is a snapshot. If we assume that NEM one day stands as a platform, then it looks different again.
The Foundation strives to run as many applications as possible on its platform. As proof of its versatility and user friendliness.
If its reliability and its applications are proven, there will be no price problems.


#56

It is not about the price - that is a completely separate issue - the same could be said of FX rates! The point of this is to put in place a system that will allow all of us Australians to be able to pay any bill by BPay using XEM!


#57

OK I thought it was to travel the world and spend xem anywhere.
But yeah Bpay is a bank thing right?
The banks at present in Australia are not embracing crypto payments, let alone Bpay.
ACX.IO just sent me an email saying they will no longer be accepting ANY payments from Westpac.
I think Westpac is a large one for travelers, well it used to be.
Cheers


#58

Such a compelling offer :heart_eyes_cat:
Now I finally know how I can easily get through all the countries and places of my dream!
Thank you for the project. As for an epitome of routes and destinations, I would suggest following some trends in the blogosphere. Here’s an example of places loved by the community: the blog about a travel
Keep it up!


#59

BPay is an aussie bank thing, allows you to pay all sorts of bills using, rent, mortgage, you can even buy plane tickets using it on some airlines.
Now imagine being able to use XEM for that? That is the big kicker for me on this - LROS already allows Bitcoin, Ethereum etc as a payment method for BPay, but obviously the addition of XEM for this would be huge!


#60

Yes it would be huge.
So how are the team currently navigating the current screw down from Australian Banks at present?
From what I can tell Australian banks are currently “battening down the hatches” in response to crypto payments from within Australia, which is contrary to the proposal.

Cheers


#61

Any answers?
I mean this is pretty relevant to all current projects in Australia.
You can tart it up with that bling bling, but if a noob asks a question the least you can do is reply.

Question is : How exactly do you plan to navigate the Australian Bank lock out at present?
Simple question.

cheers