Bali Token Boosting Local Tourism

Tanah Lot Temple, Bali | Photo by Nick Fewings on Unsplash

Bali has been a constant magnet for global travel, with the region being totally reliant on tourism: the industry accounts for almost 80% of Bali’s economy. But as a result of the devastating COVID-19 outbreak, the Island of Gods was forced to shut down its tourism – all the hotels, villas, and beach clubs were closed, and sadly, many lost their jobs. In an attempt to boost Balinese tourism, Bali Token has launched, in hopes of elevating its beleaguered travel industry.

Sunset in Bali Beach Club | Photo by Ern Gan on Unsplash

Do you believe that after a hurricane comes a rainbow? Well, if the pandemic was a hurricane then Bali Token ($BLI)–one of the latest products created by Gold Coin Academy–is the rainbow.

This product is a travel token, issued through the BSC (Binance Smart Chain) blockchain ecosystem, that aims to promote tourism in Indonesia, especially in Bali. The ultimate goal of $BLI is to introduce revolutionary blockchain technology solutions to Balinese locals and businesses.

Besides the ability to trade Bali Token on crypto markets and exchanges, $BLI can also be used as a holiday discount voucher for accommodation, hotels, restaurants, tourist attractions, and merchandise available from businesses that have been invited to participate in its partner programs.

Not yet convinced with Bali Token’s utility? Hear us out…

During the Bali Blockchain Conference 2022, which took place on February 21-22 in Nusa Dua Bali, the Bali Token received many positive responses from high-ranking officials. The Indonesian Minister of Tourism and Creative Economy, Sandiaga Salahuddin Uno, stated that the presence of Bali Token can open up new economic and business opportunities.

Sandi said, “With this blockchain technology, the public can become educated and can start their own micro, small and medium enterprises (MSMEs) in hopes that they can add more income to support their families post-pandemic.”

Traditional Balinese Dance | Photo by Mathis Jrdl on Unsplash

We don’t know if this token will take you to the moon; however, we do see the underlying use case and utility of the Bali Token as an effective payment system in the tourism capital of Indonesia. For many foreigners, the idea of swapping fiat currencies or using debit/credit cards in a foreign country is never ideal. Bali Token makes it easier for crypto holders staying on the island to engage in inexpensive and fast forex transactions. And with the Bali Visa-On-Arrival opening up again to 23 countries – as of 7 March 2022 – we hope to see Bali bloom back into life.

Disclaimer: I am not a financial advisor. Do not take anything posted as financial advice, ever. Always do your own research. Consult a professional investment advisor before making any investment decisions. My posts are for entertainment purposes only.

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