TL;DR Breakdown
• Airline company launches its first compensation project with crypto.
• Ravn Alaska’s crypto reward will work to pay for flights and other company services.
Recently, the parent company of the largest rural airline in the American state of Alaska, Ravn Alaska, has just developed a crypto reward project for all users. According to reports, the airline hopes to reward its crew members with native crypto to trade Bitcoin or other tokens on the stock market.
The company’s agents announced that the FlyCoin crypto would work with a loyalty system for its customers to obtain the token instead of receiving travel miles. The crypto can be used at the airport, buy tickets with the company, or exchange for fiat.
Crypto rewards arrive in the hands of Ravn Alaska
According to Lenny Moon, crypto FlyCoin CEO, this project is rare in the airport sector. However, the crypto team will face it to update the travel system.
Moon suggests that an Asian airline company launched an incomplete crypto reward project because they did not have a trading token, so their royalties were limited. But FlyCoin promises to be different by clarifying that you can have the token, exchange it for cash, and other tokens available on the market.
But Frontier Airlines, which would correspond to the name of an airline affiliated with Ravn Alaska and the crypto Flycoin, has just offered about three billion dollars for the Spirit firm. The company’s CEO, Josh Jones, says air rewards are outdated, and with FlyCoin will change the vision.
Jones is to supervise the evolution of the token so it can be executed under the highest standards. So far, the air cryptocurrency has raised about $33 million, which is a great advance.
Lenny Moon’s experience with startups
Although Lenny Moon makes the crypto reward project look like innovation, the executive may have much more experience than they think. Previously, Moon worked in emerging companies such as Payoff that developed new technologies to finance loans using TDCs.
The crypto reward plan is the latest endorsement of FLOAT. However, the company plans to develop projects during the year, such as the airline “Northern Pacific Airways” that will operate abroad.
There are no further details about the crypto reward project, but it is understood this will open the doors to the virtual market to new territories. Passengers will join the crypto trade to make passive investments or pay for services using FlyCoin.
According to reports, the crypto could be used within Northern Pacific Airways, Ravn Alaska, and probably in the new airline that will launch the FLOAT team in 2022. Agents also hope that the token can be used in hotels, airport services, and clubs, but it will be discussed. FlyCoin will be a decentralized currency with an initial value currently unknown.
