For several decades, the Arab has continued making trillions of dollars by extracting oil from the surface of the earth.
In the beginning, the Arabs were not wise enough to understand that oil was not renewable energy at all. However, as technology has made its way to the Arab regions, the people there have learned the truth.
They have accepted the fact that one day, they will run out of oil and when that happens, they will have nothing impactful to run their economies.
This is the reason why the Arabs have started investing tremendously in technology. It is very clear that the Arabs have so much money that they can invest money into the most advanced technologies.
They now know that the future of their economy is in the adoption of crypto and blockchain technologies. Therefore, they have started making huge investments in the particular sector.
They want to make the most out of the technology so they become the leading states in terms of crypto-blockchain technology.
Bahrain is Advancing in Crypto-Blockchain Adoption
Bahrain is among the Gulf States that are advancing in the adoption of crypto-blockchain. It is aiming to become another crypto-blockchain hub in the region.
To achieve this, Bahrain has started to normalize the adoption of crypto-blockchain technology in the region.
Even the hotels in Bahrain have realized how important it is to adopt cryptocurrencies and let the users pay with digital assets.
One particular hotel in Bahrain has taken the initiative of offering such a facility to the guests. It has reportedly allowed guests to make payments using cryptocurrencies.
The name of the particular hotel is Novotel Bahrain Al Dana Resort. According to the reports, it is the first-ever hotel based in Bahrain that has started accepting cryptocurrencies.
Hotels Adopting Crypto in the Gulf Region
Although Novotel Bahrain is the first hotel in Bahrain to accept cryptocurrencies, it does not hold the same title when it comes to the Gulf States.
Several hotels in the Gulf region have already adopted cryptocurrencies. The hotels such as the Palazzo Versace Dubai and The Palm have already announced that they accept cryptocurrencies from guests.
There are many more hotels in the Arabian region that have already adopted cryptocurrencies since the beginning of 2022. There are many more who are adopting cryptocurrencies, offering customers the option to pay in Bitcoin and altcoins.
The announcement by Novotel Bahrain
The officials at Novotel Bahrain have provided more information about the acceptance of cryptocurrencies.
As per the officials at the resort, they acquired the expertise of Eazy Financial Services to allow their guests to make payments using cryptocurrencies.
They had the convenience of their guests in mind when they introduced the particular utility. They are glad that they were able to acquire the help and support of Eazy Financial Services to settle bills and payments.
As part of the new process, the hotel has agreed to let Eazy Financial Services install crypto-payments-enabled terminals at the hotel.
The guests will be able to pay their bills on their own using cryptocurrencies. The guests will have access to make payments for the bills at the resort and in the future, more hotels, using the Binance application.
Novotel Bahrain Acquired Regulatory Approval
It is worth clarifying that Novotel Bahrain wouldn’t be able to offer such utility to the guests without getting approval from the regulatory authorities.
The resort announced accepting cryptocurrencies after the Central Bank of Bahrain approved the request from their end.
Statement by Amid Yazji
The General Manager of Novotel Bahrain was very excited to share the news with the local news reporting firms. He even made an official announcement through multiple social media channels.
He boasted that their hotel is the first in the entire Bahrain State to be accepting cryptocurrencies for bill payments.
Yazji confirmed that as of now, they are open to accepting Bitcoin for payments and may add more crypto options in the future.
