FlyCoin, a cryptocurrency exchange and vendor merchant, has announced that it will be rewarding frequent flyers with crypto tokens rather than air miles
The new offering, which would see rewards be transferable to other cryptocurrencies, and be used for other purposes, would enable airline customers to gain greater value from their rewards programmes, while ordinarily only allow them to swap air miles for specific airline-related transactions.
Currently, two airlines have signed up to the FlyCoin rewards programme – namely Ravn Alaska and Norther Pacific Airways, and plans are already in place to expand to Alaska and Asia.
Bitcoin rewards scheme
Speaking about the latest move, which will enable the tokens to be exchanged for anything, from free flights to Bitcoin, Lenny Moon, FlyCoin’s newly-appointed chief executive officer, said, “When you look at what it is right now, it’s essentially like money, but not really because it’s tied to making sure that you stay within the system…