Reading Time
~ 2 minutes
Spread the Word
Advertisement

The Hong Kong-based Cathay Pacific becomes the latest airline company to adopt blockchain technology within its operational system.

The company has announced on 9th May about launching its first blockchain-based rewards program. In the start-up period, the company will provide passengers miles using the DLT- distributed ledger technology, which will later enable them to be rewarded in real time.

The first step is to launch an online application and platform, created in partnership with the Accenture giant and entitled “Unlock More Miles“. The marketing campaign of the project will be closely linked to Hong Kong’s “dining promotion“, where existing users of the Asia Miles-Cathay Pacific’s rewards program will be able to check their air miles in real time and get rewarded as well.

Blockchain is helping industries across the globe to transform their workflows, making complicated business processes run more smoothly and efficiently, including enabling quick and seamless transaction settlements,” said Peter Yen, Manager at Accenture.

The updates will be realized automatically, while operations will be transparently displayed between the airline and “dining partners“, according to the company’s statement.

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,” the blog post quotes.

The decision taken by Cathay Pacific comes as a response to the competition after Singapore Airlines launched the same concept of blockchain-based reward application. The latter collaborated with Microsoft, and the test results were positive.

To learn more about the blockchain-based reward project, watch the video below.

Cathay Pacific is an important airline company that links 200 destinations around the world. The company has as a subsidiary Cathay Dragon to serve travelers across Asia.

Advertisement
Read more articles related to this subject:
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.