A latest 2018 report by the World Travel and Tourism Council (WTTC) shows that the World Travel industry has increased a healthy 3.9% over last year. Overall, the hospitality sector is now worth more than $8.8 trillion according to latest estimations and employ a staggering 319 million people in its workforce. The sector has seen sustained growth over the last decade despite the global credit crunch. The travel industry is also gaining traction because of the social media popularity of the industry especially on Instagram and facebook. The industry is expected to post record numbers this year as well.
But, on the other hand, the issues for travellers and BackPacker Coin remain due to the conventional banking environment. Countless credit card fees, exchange fees and travel bookings mean that a large slice of the travelers’ budget is lost in transactioning and not on actual payment ot the Travel industry itself.
At BackPacker Coin, we aim to release a digital currency that solves all the problems faced by the current and future generations of travelers in the world with a universal stablecoin payment project.BackPacker Coinoffers negligible transaction costs with instant payment capability rather than getting stuck in the never-ending transaction vortex.
The BackPacker Coin wants to eliminate various issues in the travel and hospitality industry. Currency conversion hassle is one of the biggest issues being faced by them. By offering our USD stablecoin and digital currency platform as a payment alternative, the BPC Is working to ensure that travelers can go anywhere without the need of currency conversions.
Another bagging issue is the overloading of cash when it comes to traveling. Conventional payment systems aren’t reliable and thus travelers and BackPacker Coin are required to handle a huge amount of physical cash with them which makes them prone to thieves. With the new BackPacker Coin payment system, the need for carrying outdated ATMs can also be minimized.
BPC is a true decentralized system managed by DAMO, the first decentralized autonomous meritocratic organization. A decentralized autonomous meritocratic organization has the ability to use blockchain technology to provide a secure and digital ledger that tracks financial interactions on the internet. It does so by using its decentralized ability to prevent counterfeiting thanks to the concept of “timestamp”, so that every DAMO participant can verify transactions in a single tap.
The focal point of the blockchain is that there is no central authorityand thus no monopolistic control over the entire process. The consensus is strong with this one.
BPC is an innovative product that is not the brainchild of one person but rather warrants contribution from the entire digital currency community. Enthusiasts, users and innovators can become BPC ambassadors to help propel the futuristic project forward and improve it. Travelers and enthusiasts are welcome to join the community as the ease of the using BPC will help their cause and make traveling easier than ever.