AirAsia Keen to Apply Blockchain to its Operations

March 29, 2019

AirAsia Group Berhad has announced it is studying the use of blockchain technology in the hopes of applying a distributed ledger to its operations.

The announcement was made by AirAsia Deputy CEO Aireen Omar, who said the airline started its research on blockchain two years ago when the value of digital assets hit an all-time high during the frenzy of initial coin offerings (ICOs).

Omar told the Digital Innovation Conference,

Most people were looking at blockchain from the ICO angle but we saw other opportunities in terms of decentralization and we saw some use cases. Naturally, the first use case was looking at how we can tokenize our loyalty points.

Through the tokenization of its loyalty points, the airline hopes the points are valuable in the digital asset market, as the company aims for its loyalty points to be traded as a digital currency in ASEAN. Also, turning loyalty points into digital money will strengthen its presence in the region.

She added,

We are looking at cryptocurrency but one backed by economic purpose and a real regional use case, as opposed to just speculation like what we have seen in previous ICOs.

Omar went on to say that AirAsia was also looking at the possibility of creating a marketplace for the aerospace industry. With blockchain, the airline’s operations would be more efficient, as it allows the company to track aircraft parts, their status, and wellbeing.

“This is a very interesting use case that actually covers not just the airlines, but also the original equipment manufacturers,” she noted, explaining that blockchain can be used to open up the process and increase transparency in real-time pricing and better traceability of goods.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

    Related Article
    Blockchain Enables Verification of COVID-19 Immunity
    Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

    November 21, 2020

    Illicit Cryptocurrency Activity: A Concern
    Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

    November 20, 2020

    IBM Using Blockchain to Help Businesses Reopen during COVID-19
    IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

    November 20, 2020

    Canadian Pacific Railway Collaborates with TradeLens
    Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

    November 19, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us