UAE’s Emirates Airline To Accept Bitcoin As Payment• May 13, 2022 9:22 pm • Comments
Emirates Airline, the United Arab Emirate’s leading airline, has just announced that they will be embracing Bitcoin as a payment service.
This news comes after the company’s revelation of its NFT and metaverse plans which showcases how willing the airline is to embrace these new technologies into its business.
The airline is one of the first to accept digital assets as payment and may set a precedent for the rest of the airlines to do the same across the world.
Overall, UAE is considered one of the crypto hubs due to its government and regulatory policies that have largely been crypto friendly.
With the airline industry being one of the most visible industries, mainstream adoption here would certainly accelerate the entire industry as a whole.
— Blockworks (@Blockworks_) May 13, 2022
Emirates will start its foray into the cryptocurrency industry by soon introducing Bitcoin as a payment method. The company will also add NFT collectibles on its website for trading.
As such, the airliner, headquartered in Dubai, noted that it will onboard new staff for metaverse and NFTs.
Adel Ahmed Al-Redha, the Chief Operating Officer, said the main objective behind the move is to build applications to keep a track of various client needs. He also explained that the airline will leverage blockchain technology to trace records of aircraft.
“With the metaverse, you will be able to transform your whole processes — whether it is in operation, training, sales on the website, or complete experience — into a metaverse type application, but more importantly making it interactive.”
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive at Emirates Airline and Group, stated that the company has future plans to further integrate crypto and blockchain into its core business.
To achieve that goal, the company will be investing a large of capital towards this imitative in order to meet the increasing demand by customers to utilize crypto as an alternative payment method.
If Emirates decides to partner with other airlines, investors speculate that its list of partners may also join in on the trend to accept digital assets like Bitcoin.
— Social Justice:சமூக நீதி (@Sathyantweets) May 13, 2022
The executive revealed that Emirates plans to employ Bitcoin as a payment service while adding NFT collectibles on the company’s websites for trading.
Speaking on the air travel industry, Al-Redha said it has bounced back strongly which is evident in the number of travelers.
However, he flagged that the availability of resources across the network is the biggest challenge, but added that they “are in a better position than other countries because of the accessibility.”
Although Bitcoin is the most popular digital asset right now, this move may also later pave the way for other prominent digital assets to be used as well such as XRP and XLM.
— Viren Pushpanayagam 🇦🇺⚡ (@virenp) May 13, 2022
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