Companies and popular brands across the globe are slowly understanding how cryptocurrencies work and how they can benefit their business. Every day, news of big names in large industries adopting or integrating the blockchain technology into their system surface. Huge companies like Rakuten, Microsoft, Twitch, Ford, Atari, Kodak, have already come out praising cryptocurrencies and adding it to their operations in various ways. In addition to the tech industry, another large industry where digital currencies could play a big role is aviation. Malaysian company AirAsia has announced that they are planning to launch a cryptocurrency loyalty and rewards program for its customers.
According to Nikkei, the low-cost airline company is looking to transition into an entirely cashless system. In this effort, the airline is changing its current loyalty and frequent-flyer program. The existing one will be replaced with a cryptocurrency-based system, with a coin called BigCoin. The token will be able to be used by customers of the airlines and will have many purposes. With it, customers will be able to book plane tickets, purchase upgrades, and buy meals for their flight. It is still unknown if the coin will be able to be used in-flight for the purchase of food, drinks, and duty-free items. We can also imagine that the more customers fly with the company, the more tokens they will accumulate as rewards.
Furthermore, former CEO Tony Fernandes, who is still part of the company, said that the airline might also launch an ICO in the upcoming months, without confirming a date or a set timeline. This really shows that AirAsia is serious about joining the cryptocurrency trend and using it for its business. This also confirms that the company wants to increase their online presence, and wants to transform a lot of their regular activities into digital ones.
AirAsia is not the only airline company getting interested in cryptocurrencies with Singapore Airlines and others announcing that they also want to integrate them into their existing business model. Will other big names in the aviation industry follow?
TLDR: AirAsia is planning to launch a cryptocurrency-based rewards and loyalty program with a coin called BigCoin. Customers will be able to upgrade seats, buy meals and more with the coin.