The Cathay Pacific, Hong Kong’s flag carrier and one of the biggest airlines in the world, join the growing list of airline companies exploring the applications of blockchain system.
At the start of the first application of the blockchain system, the CTG or Cathay Pacific Group will give air miles to passengers/customers over a single dispersed ledger which will allow customers; airline partners as well as the airline management member rewards in real time.
The rollout of the Cathay Pacific blockchain will first power a latest mobile app and platform, made by Accenture, CTG technology partner. This mobile app is called Unlock More Miles. The advertising program ties in with a dining endorsement in Hong Kong in which Asia Miles members- rewards program of Cathay’s Pacific- see air miles accredited to their accounts within a day of getting them.
The Cathay’s Pacific blockchain platform with computerize information fulfillment processes and allow a transparent transaction record between the joining dining partners and the airline itself through sharing the information, a statement from Cathay’s Pacific Group explained.
The best thing about this program is that it helps enhance the efficiency of the business in reducing back-office administration, according to Cathay’s Pacific Group representative.
By means of harnessing blockchain system, Asia Miles and Cathay Pacific Group are giving Asia Miles partners a single source of data when handling account activity. This enables Asia Miles, members and partners a real-time capability to manage rewards.
This airline giant marked hard work to put blockchain system into practice comes in the heels of main opponent Singapore Airlines presenting its own blockchain based loyalty wallet app earlier this 2018. Made in collaboration with Microsoft, Singapore Airlines technology partner, the exclusive blockchain proved successful during a proof of concept test wherein Singapore Airline’s frequent flyer plan members spent their air mile at participating retail trades as a point of sale transaction.
On the other hand, Fellow Asian Airline Air Asia announced recently that they will transfer their rewards plan to Bigcoin, one of the latest crypto today. This airline company is also mulling holding an Initial Coin Offering (ICO) to support the making of a latest financial service division.
Lufthana, one of the biggest airline company in Germany pointedly announced to the public its investment in a Swiss blockchain startup- by means of an Initial Coin Offering- after showing plans and programs to launch a Business to Business blockchain market powered on a public Ether blockchain.