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currency. An entire market is dedicated to tracking and trading cryptocurrencies. Other big players in the market are Litcoin and Ethereum.
Every cryptocurrency bases its value on something different, so each currency has a different available amount. Among the more interesting cryptocurrencies is banana coin, which bases its value on what a kilogram of bananas costs from a certain farm.
The pros and cons of each currency are the same from someone on the outside looking in, but once you’ re
involved in the market, each currency has its own problems and positives that make which currency to invest in a personal choice.
The future of the industry
Cryptocurrencies could bring about two big changes in the travel industry to make vacationing easier for consumers.
First is using the concept of blockchaining to create inventory lists for websites and hospitality companies. Creating a chain of transactions that’ s distributed to each hotel and booking website will prevent overbooking or misplaced reservations. This specific change would be a highly technical one that the entire industry would need to adopt.
The other, more concrete possibility is the idea of traveling without having to worry about exchange rates. Since bitcoin is decentralized, it works the same in every country, with no ATM fees or exchange rates. As more places begin to accept bitcoin as a currency, it could make traveling much less complicated and costly.
Margot Bigg wrote an interesting article for bizjournals. com that explains some of these ideas further. Visit https:// www. bizjournals. com / newyork / news / 2017 / 12 / 27 / how-cryptocurrencylike-bitcoin-could-impact-the. html.
Bitcoin creates a lot of interesting questions for the future of the travel industry and the economy as a whole.
What do you think about these potential changes? Send an email to staff @ tstoday. com to share your opinions.
Kristina Payne is the social-media coordinator for TimeSharing Today.
Living Online is a conversation, so join in. Write to kristina @ tstoday. com or post to our Facebook and Twitter pages.
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