Menu
Air NZ invests in cryptocurrency as part of Swiss blockchain partnership

Air NZ invests in cryptocurrency as part of Swiss blockchain partnership

Blockchain offers the possibility of building of new, direct and secure channels to maket

Up, up and away with blockchain

Up, up and away with blockchain

Air New Zealand is partnering with Swiss company Winding Tree to explore the use of blockchain in its business.

The airline is also investing in the company through a token sale, scheduled for January, according to a Reuters report. Such sales, or initial coin offerings, enable blockchain start-ups to raise funds without regulatory oversight.

According to another report, the tokens would finance the development of an open blockchain digital marketplace to wrest some control from digital incumbents such as online travel agencies and distribution systems.

Air New Zealand chief digital officer, Avi Golan, says the airline is excited by the possibilities of blockchain. Its built-in efficiency and security offer the potential for innovation in travel and could pave the way for new business models and collaboration.

“While we are still exploring its benefits, blockchain may offer a streamlined way to retail airfares and ancillary products alongside our current channels," Golan says.

"In removing complexity from the sales chain, customers benefit from reduced transactional costs, and airlines benefit from swift and secure sharing of information."

Air New Zealand is looking at a number of potential use cases for the distributed ledger technology including cargo and baggage tracking, retail, distribution and loyalty programme opportunities.

Winding Tree is developing the world’s first travel marketplace on blockchain to connect suppliers such as airlines and hotels directly to sellers.

Co-founder Pedro Anderson recently described the travel industry as a "centralised mess"  with a number of intermediaries holding too much control over every area of travel (see video).

Co-founder and CEO Maksim Izmaylov says Winding Tree is a decentralised alternative to the current travel distribution landscape.

“With a business-to-business marketplace system powering blockchain-based travel booking transactions, startups and companies will be able to gain direct access to travel service providers’ offerings," he says.

“We are very excited to be partnering with Air New Zealand, as it’s an important step in bringing blockchain technology to the travel industry and creating opportunity for innovation."

German carrier Lufthansa has also recently announced a partnership with Winding Tree and a similar investment in the company's Lif cryptocurrency.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Air New ZealandBlockchainWinding Tree

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments