An Iranian travel startup is tackling the country’s economic sanctions and consequent financial exclusion by offering visitors to the country an opportunity to pay for their travel experience with Bitcoin.
Speaking to Bitcoin News, IranbyBit‘s founder Setare Shabanipour discussed the importance of having the option to pay with Bitcoin, and how the business is helping to grow both the tourism sector in Iran and international levels of Bitcoin adoption.
Why does Iran need a Bitcoin travel option?
Iran has been subject to economic sanctions from the US, the European Union and the United Nation Security Council in various capacities since the Iranian Revolution in 1979. Through the years, the sanctions have taken the forms of asset freezes and trade embargos, which have taken a serious toll on the country’s economy and people.
It is difficult to send and receive money from other countries while based in Iran, creating a major issue for attracting outsiders to visit the country. Shabanipour explained that tourists are not able to use credit cards, Visa or Mastercard; ”Travelers need to exchange their money to the Iranian local currency and carry cash with themselves which is a troublesome and an unpleasant experience,” she said. It also makes it difficult for international travelers to book their accommodation and events such as local tours before they enter the country.
To read more about why Bitcoin is getting Iranians excited: https://bitcoinnews.com/iranbybit-bitcoin-powered-tourism-fueling-iranian-economy/