Iran’s Tourism Sector Now Integrated with Crypto

Dennis Wafula

March 26, 2019

The Iran tourism sector will be welcoming cryptocurrencies as they consider these digital assets to be equivalent to money. The major push behind this bold move is the fact that European tourists are forced to visit other places instead of Iran due to the negative impact Iran’s currency devaluation has on the tourism sector.

Another major push is the fact that the country has an underdeveloped tourism sector which is quite ineffectual in terms of money transactions. Due to lack of access to international payment methods, foreign tourists in Iran have to pay for almost all tourism facilities in cash. The incorporation of crypto coins into the tourism sector aims to ease both travelling and spending for tourists and at the same time offer them a wide range of secure and efficient services.

So Far So Good

It is quite evident that the entire crypto and blockchain technology can tremendously transform Iran’s tourism and travel sector. IranByBit happens to be a startup that offers several services, accepting payments from both Bitcoin (BTC) and cash on arrival. The platform currently offers tours, accommodations, and Iranian debit cards and SIM cards.

IranByBit research and development head Ziya Sadr told Al-Monitor believes that;

“A widely accepted and accessible cryptocurrency such as Bitcoin could help small businesses in the tourism sector to allow a wide range of customers from anywhere in the world to use their coins inside Iran,”
According to him, “A state-run crypto doesn’t have the potential to address any of the problems of accessibility, acceptability, and reliability of the local currency in tourism,”

Another perfect example is the novice crypto exchange platform, Rmoney. Rmoney has its own native cryptocurrency created with the aim of serving the country’s tourism sector. The platform aims to initiate payment processes that will solve ‘foreign payments’ complications.

“As payment challenges in this sector are resolved, more foreign tourists will be attracted to Iran, which in addition to generating foreign currency revenues; will provide employment opportunities for residents,” said Mehdi Naseri, CEO of Rmoney.

Iran has been contemplating on crypto for a very long time now and it has proven again and again that it has the potential to compete against others within the crypto space. All Iran needs is an opportunity.

Crypto is Coming!