Tony Fernandes, CEO of AirAsia has revealed in a recent interview that they are launching a cryptocurrency, BigCoin to upgrade their frequent flyer points program. This will considered to be the second biggest ICO of the year after Telegram’s messaging app which has reportedly collected $ 1.7 billion, way beyond their target of $ 1.2 billion. It is the largest ICO in the history of cryptocurrency so far. Malaysian Airline AirAsia to Launch Bigcoin-A Great Investment Opportunity.
We hope that traders don’t miss out on the opportunity and regret later like they did when Bitcoin was so worthless to buy a Piza against several coins. The initial phase is the best time of investment to any cryptocurrency since it only involves a thorough research.
Malaysian Airline AirAsia to Launch Bigcoin-A Great Investment Opportunity
Let’s read out to come to a conclusive opinion about our trading strategy for Bigcoin!
AirAsia’s plan of execution
The airline plans to introduce Bigcoin as an acceptable payment option on the website against the Ticket prices beside Fiat currencies in April this year. Initially this currency will be used for in-flight meals, seat upgrades and other services within next few months. CEO is confident that Bigcoin will soon be accepted by third party services.
Why this Transition is Natural
Toney considers this to be a natural move since the Airline already has a Big Points system. Moving to a virtual currency is an added advantage with them where it will not only support the current system of the Airline but also work as a currency available to be traded in the exchanges once it is open to public sale.
AirAsia’s Wallet is Already in Use
AirAsia has already introduced its e-wallet in January with a name of BigPay which is used by the passengers to pay for food and drinks on the flight. The flights will become cashless and more convenient for the management and the passengers. With this utility, the system is all set to convert to a crypto currency which will most likely serve multipurpose.
The Plan for Coping up to Strict ICO Regulations
The anonymous nature of crypto world has provided a loophole to manipulators and exploiters who are ripping off the investors by launching fake ICOs. Regulatory bodies of most of the countries are actively watching such culprits and made strict regulations to reduce such cases.
Technology giants like Facebook and Google have already banned the advertisement of ICOs for the same purpose.
The CEO is confidant to meet these challenges without much of difficulty and says “We’re in the most regulated industry in the world, so we know how to deal with regulators and regulations”
Regulatory body in Malaysia, Where AirAsia is originated has introduced regulations in Feburary, 2018 to keep a vigilant eye on the new ICOs.
The Most Feasible Investment Opportunity
Traders need to keep an eye on any developments in Bigcoin system because they have not announced any schedule for the launch of ICO. There is no timeline for the presale phase by the authorities but keeping a watch on their moves will give you an advantage over others.
People are seeing Bigcoin as a future replacement of Bitcon and predicting that it will be the second biggest ICO in the history of crptocurrencies after Telegrams messenger app.
It is not known whether they will develop their own Blockchain or use an existing platform to proceed with their plan. The likelihood is that they will opt for developing their own since they have a huge repute and credibility backing up their currency.
Singapore Airlines has announced to develop its own blockchain for their frequent flyer program which is supporting our observation.