Cryptomiles

Old Jan 10, 18, 5:20 pm
  #1  
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Cryptomiles

The more I think of it the more I believe the future of loyalty programs (airlines, merchants, hotels) will be decentralized and a great mainstream application for cryptocurrency. I wonder how close we are to a point where an airline will essentially outsource their miles program by issuing cryptomiles that is automatically credited to a wallet after a flight that you can choose to redeem like revenue based miles (like southwest, JetBlue).
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Old Jan 10, 18, 9:31 pm
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How is this any different from the way it works now, other than the addition of the "crypto" buzzword?
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Old Jan 11, 18, 8:04 am
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Blockchain and loyalty programs?

Stay tuned......
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Old Jan 11, 18, 9:53 am
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If I can actually redeem DL miles for drugs or guns in this future utopia, that might be an improvement from Skymiles today.
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Old Jan 11, 18, 10:56 am
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It is 2018 after all.... amazing to see what happened to Kodak's share price from their Cyrpto announcement this week
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Old Jan 11, 18, 4:41 pm
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My new retirement plan. CPRichCoin IPO next month.

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Old Jan 11, 18, 5:48 pm
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Iím actually surprised there isnít more overlap between the miles community and the crypto community. Or is there? How many bitcoin millionaires have been lurking on here for years???

Either way, I did actually find a few alt coins that are marketed as decentralized loyalty programs but real mainstream adoption will only come from either a big airline, hotel, bank, or ecommerce co adoption their own or partnering with one of them...
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Old Jan 11, 18, 7:17 pm
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Originally Posted by sedubby View Post
I’m actually surprised there isn’t more overlap between the miles community and the crypto community. Or is there? How many bitcoin millionaires have been lurking on here for years???
Mostly among a (very small?) subset of the MSing crowd. See these recent threads in the Manufactured Spending forum:

Running Points by Buying Cryptocurrencies


Bitcoin for CC Churn?


MS with Bitcoin


But relatively few users participating in each of these threads (the "busiest" thread of those got 34 posts in about half a year), and not all positive to the concept.

And keep in mind that MSing itself is but a subset of the miles/points game. (Many churners, for example, don't bother with "true" MSing, because they are too "busy" churning. And then there are the many others who didn't get into either MSing or churning, because they're just too busy flying or staying in hotels or whatever.)

Last edited by sdsearch; Jan 11, 18 at 7:23 pm
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Old Jan 11, 18, 8:54 pm
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Hmm... I suspect crypto and FT miles are not exactly compatible, or at least, you wouldn't want that. The beauty of miles and points is that there are inherent inefficiencies in different programs, which is great for those looking to maximize redemption.

If it is all decentralized, and information is perfect, we'll essentially get all the Deltas/United/WN/Accor redemptions. Is that what you truly want?

I MS by buying crypto with my CCs, and have gotten into crypto-trading. Crypto-trading doesn't sleep, so very little FT time these days.

Last edited by solewalker; Jan 12, 18 at 3:49 am
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Old Jan 12, 18, 9:17 pm
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Some hotels have started taking crypto currency as payments. Who know, maybe airlines will too.
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Old Jan 14, 18, 6:12 pm
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This is one of the most hyped ICOs right now -> https://www.beetoken.com/

Basically decentralized AirBnB with no fees.
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Old Jan 14, 18, 6:15 pm
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How would cryptomiles work? How do you know how many you earn, or how many it costs to redeem, when prices change constantly for bitcoin?
Would it take a day to make a booking using these cryptomiles?
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Old Jan 15, 18, 6:50 pm
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FWIW, the trades shows/conferences around loyalty that I've attended in the past 18 months have all talked about it. None of them know what they're doing with it or why, but they're all talking about it.

As for what to use it for or why, the idea is a decentralized ledger, not that the points vary in value or such. But it is also an incredibly inefficient way to run a system that, by its very nature, is centralized. Putting the account balance ledger onto a blockchain doesn't deliver any value to the consumer nor the company.
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Old Jan 17, 18, 8:26 am
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EZToken (https://ico.ezpos.io/) tries to solve that problem...
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Old Jan 18, 18, 10:37 am
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Originally Posted by gsch View Post
EZToken (https://ico.ezpos.io/) tries to solve that problem...
Very poor marking IMHO. It says it's "the crypto equivalent to skymiles". Well, isn't that like saying it's a useless currency?
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