CTO seeks to leverage blockchain tech for tourism payments
The Caribbean Tourism Organisation has sealed an agreement to introduce blockchain tech in a bid to streamline tourism industry payments.
The CTO has jumped aboard the blockchain bandwagon after signing a MOU with local tech company Bitt.
Bitt’s digital wallet and merchant apps will be leveraged to assist in ‘broader economic participation in community-based tourism and related sectors.’
"Blockchain financial services have the potential to advance specific programs and activities in the tourism sector, and the CTO has a responsibility on behalf of our members to fully explore those possibilities," said Hugh Riley, the CTO’s secretary general.
It will look at ways digital currency can relieve general tourism payment and forex issues and assist the region’s unbanked population.
"Tourism is the largest single contributor to the Caribbean economy and is absolutely critical to every single Caribbean nation’s well-being and development. Thus we see this as a very natural and necessary association," Rawdon Adams, Bitt’s CEO said.
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