China Far Eastern Air Transport Announce To Accept Cryptocurrency Payment

China’s airline FAT Taiwan Inc. announced on February 28, 2018 the company will accept cryptocurrency payment and thus becomes the first in the country to allow fliers to pay for tickets with cryptocurrency.

According to the announcement, FAT will fully accept cryptocurrency for the payment of airline ticket and relevant services, aiming to be the pioneer to embrace cryptocurrency in the airline industry. Passengers can enjoy more convenient and discounted trading experience using cryptocurrency to pay for more than 20,000 flights and related travel products of the company.

FAT Taiwan Inc. (Far Eastern Air Transport), a Taiwan-based airline, established in 1957, used to be the No. 1 carrier on Taiwanese domestic routes. With the announcement to accept crypto payment, while based in Taipei, FAT offers international travel options to a number of regions including Japan, South Korea, Malaysia, Philippine, Indonesia, Thailand, Vietnam and Cambodia mainly in Southeast Asia.

Zhang Gangwei, its president, has a bright vision for the future of cryptocurrency which runs all the way to find a place in the market. The past year witnesses it grow to be a significant transaction tool, proving its advantages of liquidity and convenience in payment.

“The widespread use of cryptocurrency in various scenarios will usher in a new future for the airline business, lodging industry, OTA and the entire tourism sector. FAT is about to be the No.1 in the industry to embrace cryptocurrency and blockchain technology.” said Zhang.

Few companies accept cryptocurrency in China at present. FAT’s move might be able to lead more peers and competitors to have a go at cryptocurrency payment, and create a new business mode. While what cryptocurrency could be used has not yet mentioned in the announcement.

  • Apart from FAT, Xue Manzi, a famous Chinese angel investor and aka an Internet celebrity, even worshiped as a blockchain mentor, purchased Minshuku properties in Kyoto Japan and Koh Samui Thailand and said on his Weibo (Twitter-like social network in China) BTC, ETH, RIPPLE, EOS, QTUM, BTM, INK and NEO are accepted for the lodging payment.
  • Earlier a Shenzhen automobile company took the lead to accept BTC, ETH and BCH payment for its luxury cars.

Picture from social network showing BTC, ETH, BCH are accepted for a Ferrari F430

  • And a bar named Café Bar 2nd Place in Beijing was reported to be the first bar in China to accept bitcoin. Last April, an American customer named Smith suggested to pay in bitcoin in a gathering there with some bitcoiners, and the bar owner unexpectedly said yes. Later Smith talked some more stores in Beijing into accepting bitcoin as an alternative payment.
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