Complex, multi-currency travel loyalty programs are ripe for innovation that would make them easier to use.
Blockchain – the technology behind Bitcoin – could be the answer. By enabling secure, real-time sharing of transaction data, blockchain-based platforms could reduce travel companies’ balance sheet liabilities (in the form of unredeemed points), increase redemption options, and eliminate customer hassles. But it will be critical for airlines and hotels to get in on the ground floor of blockchain platform development; otherwise, they risk being disintermediated by fast-moving technology companies.
HOW BLOCKCHAIN WORKS