Popular in East Asia, the Taiwanese low-cost carrier AirAsia has confirmed plans to release its own token (or cryptocurrency) called BigCoin.
In an interview with the Nikkei Asian Review founder and CEO of AirAsia, Tony Fernandes (Tony Fernandes) has confirmed the airline plans to enter new markets along with issuing its own cryptocurrency BigCoin in the framework of the ICO. It remains unclear whether AirAsia to develop their own blockchain or she intends to use an existing platform for BigCoin.
AirAsia is one of the largest Asian low-cost airlines by number of passengers. According to Fernandez, the airline converts points loyalty in BigCoin, and ticket prices on the airline’s website will appear as in traditional currencies and BigCoin starting this month.
Fernandez, who believes cryptocurrency is «a tool to mitigate the risk of fluctuations of foreign currencies,» assumes that in the future BigCoin will be made and third-party companies, not only by the carrier. According to him, after the launch of coins customers will be able to use BigCoin to pay for food in-flight and other services already in 3-6 months.
AirAsia first announced their FINTECH program, dubbed «The Big» in mid-2017. Its purpose is to provide banking and financial services, as well as purchases on Board for more than 60 million passengers a year. Last month, Fernandez was first told about the plans for the ICO.
AirAsia became the next airline that wants to use the advantages of blockchain and cryptocurrency in their work. In March this year the Taiwanese airline FAT opened
the sale of tickets with bitcoins, following the example
Japanese airline Peach Aviation, which started accepting cryptocurrency last year. In addition, in February this year it became known that Singapore Airlines also uses
blockchain in the loyalty program.