a. โ Issues faced by Ibiza-based artists, businesses, and tourists
Despite being a popular tourist destination, Ibiza-based artists, businesses, and tourists face several issues that hinder their growth and success. Some of the common issues include:
Lack of financial infrastructure: Many businesses in Ibiza struggle to access traditional banking services, which limits their growth opportunities. Similarly, local artists and creatives often face difficulties in receiving payments and monetizing their work.
Limited exposure: Although Ibiza is known for its vibrant nightlife, it can be challenging for local businesses and artists to reach a broader audience beyond the tourist circuit. This limited exposure can lead to a lack of visibility and recognition, making it harder for them to establish a sustainable income stream.
High transaction fees and chargebacks: Businesses that accept credit card payments often face high transaction fees and chargebacks, which can eat into their profits. Additionally, tourists may face difficulties in using their cards in Ibiza, which can be a major inconvenience.
Lack of trust and security: Due to the prevalence of scams and fraud in the tourism industry, many tourists are skeptical about making transactions with local businesses. Similarly, businesses may struggle to build trust with customers who are unfamiliar with the local scene.
To address these issues, the Ibiza Token ecosystem aims to provide a secure and accessible platform for artists, businesses, and tourists to connect and transact. By leveraging blockchain technology and innovative solutions, we aim to create a more equitable and sustainable economy for everyone involved in the Ibiza ecosystem.
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