Emirates Airline accepts Bitcoin as a means of payment

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2022-05-16 20:46:26

Emirates Airline, the largest airline in the UAE announced to accept Bitcoin in payments, continues to work on NFT and Metaverse projects.

Emirates Airline accepts Bitcoin as a means of payment

Emirates Airline accepts Bitcoin

Arab media outlet, Arab News, reported on May 11, the airline plans to use Bitcoin cryptocurrency as a payment service. In addition, Emirates will also launch non-fungible tokens (NFTs) on the company’s website. This is considered the first move to enter the crypto industry by the national airline.

COO Adel Ahmed Al-Redha, CEO of Emirates, shared at the Arabian Travel Market trade show in Dubai that it will be recruiting for Metaverse and NFT related projects.

Al-Redha also said the move is aimed at building apps to track different customer needs. Specifically, the airline will apply blockchain technology in tracking aircraft records.

Regarding the Metaverse issue that the CEO shared:

“With metaverse, you will be able to transform your entire process including operations, training, web sales or seamless experience into a metaverse-like app, but more importantly make it. interactive.”

When asked about the state of the aviation industry, Al-Redha said that it has recovered well after the Covid-19 pandemic. The number of passengers has gradually improved. However, the accessibility of resources across the network is the most significant obstacle and the global shortage of human resources in the near future will be a major challenge. Even so, the Emirates CEO emphasized that the company is having an edge over other countries because of its accessibility.

Emirates has previously revealed plans to roll out NFTs and experiences in Metaverse to its customers and employees. At the same time, the company explained that the use of the digital asset space is in line with the UAE’s vision of the digital economy.

This is the first time the airline has publicly discussed its Bitcoin payment plan. On April 14, the company announced that it would turn a booth it built for Expo 2020 into an innovation hub. The main aim of the project is to focus on technology including the Metaverse, Web3 and NFT initiatives.

The city of Dubai, headquarters of Emirates, recently established a new body that focuses on virtual asset regulation and oversees the UAE’s licensing regime for crypto companies.

This decision by Emirates is seen as an important milestone for both the airline industry and the cryptocurrency industry. Since this is a global airline that directly accepts Bitcoin.

Aviation Industry Integrates Blockchain and Adds Cryptocurrency to Payment Services

Many airlines around the world have started looking to integrate blockchain and cryptocurrency payment systems. In 2014, Latvian airBaltic was the first airline in the world to accept Bitcoin as payment for air tickets, and to date it has added Dogecoin (DOGE) and Ether (ETH).

In October 2021, the President of El Salvador, Nayib Bukele, announced that low-cost airline Volaris plans to accept Bitcoin, but has yet to do so. This Central American country was also the first to consider Bitcoin as legal currency. Recently, President Nayib Bukele “revealed” the first simulated images of Bitcoin City.

In December 2021, Air France, the national airline of France, collaborated with several other organizations to research a system to help verify Covid-19 test results based on Blockchain technology.

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