To bring you the best content on our sites and applications, Meredith partners with third party advertisers to serve digital ads, including personalized digital ads. Those advertisers use tracking technologies to collect information about your activity on our sites and applications and across the Internet and your other apps and devices. Is this mining bitcoin on azure future for holidays?
Read this: Is this the future for holidays? The digital revolution is coming to a hotel near you. Well in the States anyway, where virtual currency Bitcoin is now being accepted as a form of payment for hotel bookings through travel website Expedia. Expedia’s global vice-president, Michael Gulmann, said the company was in a good position ‘to solve travel planning and booking for our customers and partners alike by adopting the latest payment technologies. The company is only accepting the currency for hotel bookings to begin with, and is currently restricting the trial to its US site.
But travel experts predict the company will expand the payment option for other services depending on the success with hotels. While Expedia is one of many to begin accepting the crypto-currency, it is the largest travel company to accept it so far. No major airline carriers have approved the currency for payments. But banks across the world have raised concerns about the virtual currency over recent months, and it has been plagued by technological problems and security issues.
Bitcoin: Coming to a hotel near you? It has also been the subject of much controversy since its launch, with fears that it can be manipulated by money launderers and black marketeers, and used to ‘hide’ wealth. Expedia will use Bitcoin exchange Coinbase for processing transactions, but Gulmann says the company will not store the currency, but convert Bitcoin deposits back into US dollars every 24 hours. Expedia is the first company in the travel sector to embrace the virtual currency, although an increasing number of companies are beginning to adopt Bitcoin: Google’s Android platform already accepts the digital money, and Apple is looking into using it for downloads or in-app purchases from the Apple App Store. Virtual currencies are built around shared software, with users carrying out transactions directly, without having to go through a bank or other company. Coins are transferred directly from person to person and are kept in a digital wallet that can be accessed on a computer or mobile device.