Tag Archives for cryptocurrency.
Coinbase’s new Amex card promises “up to 4% back,” but the real story is strategic: it’s designed to trap value inside the Coinbase ecosystem—spend, earn, borrow, stake, repeat.
It turns out that airlines may be missing out on the big money? New technology makes it possible to use spare electricity on planes to mine crypto. And the company that came out with an announcement about this today saw its stock shoot up over 60%.
Northern Pacific Airways is promoting that its Flycoin frequent flyer currency “is honored to be named one of PhocusWire’s Hot 25 Travel Startups for 2023.” Because what could be more right now with FTX imploding; crypto exchange Gemini – founded by the Winklevi – facing pressure; Terra and Luna showing that stablecoins aren’t so stable; and 3AC collapsing?
A currency serves two purposes – a medium of exchange and a store of value. So far crypto isn’t good for either, it’s tough to use (you first have to convert it to another currency and that’s costly) and good stores of value don’t fluctuate wildly in price.
However crypto is no longer a flash in the pan either, many very smart people are working developing businesses, tools, and use cases, and prices have dropped – and recovered – for the most popular currencies. The price of crypto doesn’t seem to behave like a classic bubble.
Two U.S. airlines – one small regional airline, and another long haul low cost carrier startup – have joined forces to launch a cryptocurrency that passengers will earn instead of frequent flyer miles.
Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel -- a topic he has covered since 2002.
Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »
