AirAsia – Going BigCoin With Its Loyalty Cryptocurrency
The international airline, AirAsia is making history this year with the announcement of its new Cryptocurrency and ICO. While speculated for a while, since January, AirAsia has taken leaps into the digital realm. Announcing its digital ‘BigWallet’ at the beginning of 2018, allowing users to pay for food and services in-flight using onboard wifi.
The company wants to take the digitalisation further, however, as it presents ‘BigCoin’ to the world. Announced by its founder and CEO, Tony Fernandes, the budget airline is carving out a niche within cryptos and fintech services. The coin is expected to take the place of flying miles as of April, encouraging more to fly with AirAsia.
AirAsia – Dreaming BigCoin
While the prospect of a cryptocurrency taking the place of a loyalty program is exciting. Details remain vague as to the proposed date for its Initial Coin Offering (ICO), with Fernandes promising rapid implementation. The BigCoin could enter circulation for users within the next three to six months.
So how will it work? Payments made for services would be possible through conventional currencies, but also BigCoin. With it being added to AirAsia’s list of acceptable currencies. This will allow for holders of the coin to use them as an alternative payment method.
Singapore on the horizon
It was also reported in February, that Singapore Airlines would introduce blockchain to develop its flagging loyalty programme further. It’s unclear, however, to what extent this system will be incorporated, whether it uses an existing Ethereum system or one more bespoke.