Cathay Pacific launches Blockchain-based reward system
Cathay Pacific Airline customers will benefit from a new customer loyalty and reward system based on Blockchain technology.
Cathay Pacific launches its application
CathayMany airlines have already taken the leap by exploiting the new Blockchain technology. The latest, Cathay Pacific, is launching its first application linked to the Asia Miles platform, which will be based on distributed registry technology. A single ledger has been created for this purpose by which the company will issue “air miles” (awards). Customers can easily manage their earnings in real time.
In the implementation of “Asia Miles”, Cathay Pacific partners with Accenture; through this partnership, the reward system will be linked to the “Unlock More Miles” or also “Asia Miles” application. This platform allows the promotion of several restaurants where customers can exchange their “air miles” for a free meal ticket.
In an announcement, Cathay Pacific explains that the Blockchain platform will facilitate data processing procedures and allow a transparent transaction history between the airline and partner restaurants. All data and information will be shared.
The Blockchain will improve overall efficiency
According to Cathay Pacific, the creation of a system based on the Blockchain will reduce the costs generated by the back office. Cathay Pacific and Asia Miles will have access to a unique data source provided by the blockchain without going through multiple relays, so rewards will be managed in real time.
Singapore Airlines has also explored blockchain technology. The company is also considering holding an ICO to finance the development of a new financial services division.
Airlines are modernizing and shipping companies are beginning to feel the terrain offered by Blockchain technology, including the Scandinavian company Blockshipping which wants to use the new technology to track containers.