Hong Kong’s national flag carrier and airline giant Cathay Pacific is also looking at the applications of blockchain technology in issuing air lines to customers over a single distributed ledger that would allow customers, airline partners and the airline to manage member rewards in real time.
The airline’s blockchain rollout would first anchor a new mobile application and platform, which was worked on by technology partner Accenture, called “Unlock More Miles.” The marketing campaign is linked to a dining promotion in Hong Kong where members of “Asia Miles” see air miles credited to their accounts within 24 hours of earning them.
The blockchain platform would automate data fulfillment protocols and allow a transparent transaction history between the airline and dining partners by sharing the data set, said an announcement from the airline.
“The beauty of this initiative is that it helps improve business efficiency minimizing back-office administration,” the statement said, adding:
“By harnessing blockchain technology, the Cathay Pacific Group and Asia Miles are providing Asia Miles partners a single data source when managing account activity. This allows Asia Miles, partners and members a near real-time ability to manage rewards.”
Cathay Pacific’s focused efforts on implementing blockchain technology comes on the heels of chief rival Singapore Airlines releasing its own blockchain-based loyalty wallet application earlier this year.
Developed in collaborationg with technology partner Microsoft, the private blockchain was successful during a proof-of-concept trial where members of the airline’s frequent-flyer program spent their air miles at retail merchants as a point-of-sale transaction.
Fellow southeast Asian airline Air Asia has also announced that it will enable its rewards program to a new cryptocurrency called “BigCoin.” The firm is also considering holding an ICO to fund the development of a new financial services division.
- Institutional Players Believe Bitcoin Price Has Already “Bottomed” – Fundstrat Survey 5 October 2018
- BlackBerry Introduces Blockchain Platform for Healthcare 5 October 2018
- Seoul Mayor Launches Five-Year Plan to Promote Blockchain 5 October 2018
- Circle Internet Financial Launches “Collections” 5 October 2018
- Bithumb to Open Global Decentralized Crypto Exchange 5 October 2018