Air travel rewards have long been a popular way for airlines around the world to entice customers to use their service again, but Malaysian airline AirAsia is now looking to take this ploy a step further by introducing a cryptocurrency-based rewards platform.
The low-cost airline is set to introduce a rewards-based cryptocurrency coin called BigCoin, that travelers will be able to use to go about purchasing flight tickets, buying meals, upgrading their seats and claiming other bonus options. AirAsia's chief executive says the cryptocurrency could be launched via an initial coin offering sometime this calendar year.
Ultimately, the BigCoin project goes to show that age-old marketing practices such as air travel rewards need to adopt the latest and greatest technologies, such as cryptocurrency and blockchain to improve their offerings.
Cryptocurrency Air Travel Rewards
This Airline Rewards Program Will Use Cryptocurrency Tokens
Trend Themes
1. Cryptocurrency-based Rewards - The introduction of a cryptocurrency-based rewards platform in the airline industry provides an opportunity for businesses to explore new digital reward systems.
2. Initial Coin Offerings for Airlines - AirAsia's plan to launch their cryptocurrency coin via an initial coin offering highlights the potential for airlines to raise funds and engage customers through blockchain-based token sales.
3. Blockchain in Airline Marketing - The integration of blockchain technology into the air travel rewards system demonstrates the disruptive potential for blockchain in improving traditional marketing practices in the airline industry.
Industry Implications
1. Airline - The introduction of cryptocurrency-based rewards by AirAsia presents an opportunity for other airlines to explore similar digital reward systems for customer engagement and retention.
2. Financial Technology - The rise of initial coin offerings in the airline industry highlights the potential for fintech companies to provide services and platforms for token sales and fundraising within the travel sector.
3. Blockchain Technology - The integration of blockchain into the air travel rewards system showcases the disruptive capabilities of blockchain technology in transforming marketing practices across various industries, including airlines.