Cathay Pacific initiates blockchain-based reward program
Hong Kong airline giant Cathay Pacific is turning to blockchain for its rewards program.
The airline and its rewards program, Asia Miles, have created a new platform with a mobile app developed by Accenture. According to Cathay Pacific, the app will help members of the recently launched dining promotion—Unlock More Miles—manage their account, and also allow Asia Miles members get rewards which will be credited to their accounts a day after earning them. Partners and members of the Asia Miles community will also be able to manage rewards in real-time.
The technology will enable secure and transparent transactions between the airline, its partners and members of the rewards program. Partners and members will be provided with a history of their transactions, according to the Cathay Pacific. Peter Yen, managing director at Accenture, said blockchain technology optimizes business operations around the world.
“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,” Yen said in a statement.
Early this year, Singapore Airlines announced that it’s trialing a blockchain-based loyalty wallet application developed by its partner, Microsoft. According to the airline, proof-of-concept trial for the private blockchain, which had members of Singapore Airlines’ frequent-flyer program spend their air miles at participating retail merchants as a point-of-sale transaction, was successful.
Blockchain can provide airlines with better security and identity structures for their day to day operation. It provides secure platforms to store and share customer information with little risk compared to the current technology. Blockchain, through the use of smart contracts, could be used to make it easier for individuals to access tickets from any corner of the globe. Additionally, blockchain could help customers use their points as soon as they get them by changing them to tokens.
Cathy Pacific offers airline services to over 200 destinations across the globe. It has more than 140 aircrafts. Accenture is a professional IT service company that offers consulting, digital, operation and technology solutions to clients.
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