South Korean Unicorn Traveling Agency Yanolja to Offer Crypto Rewards With MiL.k Partnership

South Korean travel company Yanolja, hit Unicorn status back in mid-2019 after a $180M funding round valued at $1 billion, has integrated a blockchain platform so that their rewards tokens can be exchanged for cryptocurrency.

The blockchain rewards platform with which Yanolja closed the partnership is MiL.k. The deal is for MiL.k to enable the non-crypto rewards currency Yanolja Coin to be exchanged with the Milk Coin (MLK), which is accepted for trading on crypto exchanges.

MLK Can Also Be Redeemed at Other Vendors

The good news is that the MLK can be redeemed at other vendors having the MiL.k crypto rewards platform integrated. These vendors are South Korea’s most popular car-sharing service, Delivery Car, and Seoul’s airport bus service, Seoul Airport Limousine. This means the rewards earned while riding the airport limousine can also be redeemed at other companies, turned into crypto, and sold on exchanges.

Mutual Credibility

The head of international business at Milk Partners and Keyinside, Samuel Yun, said that mutual credibility is the rewards system’s benefit, seeing reward programs contain important information about a company, information on sales included.

He added that the MiL.k platform has all its transactions written on ledgers, also encrypted on the blockchain, which means companies don’t need to worry about their data being leaked.

Discounts to Be Offered

The rewards schemes of MiL.k tokens include all sorts of discounts too. Yun said that buying $9 worth of MLK can bring a purchasing power valued at $10, with the percentages increasing according to what MiL.k is offering at any given time. MLK’s value is pegged to the one of a fiat currency, so the won for South Korea. Buying MLK when the time is right can bring bigger rewards. Here are Yun’s exact words on this:

“If you choose to hold MLK for future value and use it later for bigger points, you can certainly do so.”

Those who bought MLK in February lost most of their discounts. When launched, MLK had a value of $1.51, but now its price went down to $0.22, says the metrics site CoinGecko.

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Author: Oana Ularu

Travala Expands Its Crypto Payments Options By Adding NEM’s XEM Token

Travel platform Travala, a firm that allows its customers to pay for hotel accommodations using digital currencies, has partnered with the NEM Foundation to support XEM token payments.

In a blog post, Travala and NEM Foundation announced that XEM has been integrated as a payment option on Travala’s platform. In this regard, XEM is now part of more than 20 other virtual currencies which are presented as payment options by Travala which comprise of:

Following the agreement, XEM holders can now enjoy up to 40% discounts for more than 2 million accommodations locations around the world. NEM CEO, Alex Tinsman expressed his gratitude saying that the travel platform has been essential in supporting the crypto industry and plays a vital role in enhancing the mass adoption of cryptos.

He added that the addition of the XEM payment option is a testament to the firm’s commitment to scaling the use of the token in various firms across all industries. Travala CEO, Matt Luczynski, welcomed XEM holders saying that his firm will ensure they get the best services.

The new developments come just days after the firm announced it had begun accepting USDT as a payment option for its over 2 million destinations.

The firm has been aggressive in providing crypto-based payment solutions. In November last year, the firm partnered with Bookings.com to enable its clients to book more than 90,000 divergent destinations via cryptocurrencies. The firm announced that its December revenues had increased by 33.5% following the partnership. About 28% of the December revenues were made through Bitcoin.

A spokesperson at the online travel firm said BTC is the most used virtual currency on Travala, accounting for more than 60% of all the crypto payments revenues.

The use of crypto in the tourism sector has not only been confined to bookings only. Late last month, Thailand announced that it will use blockchain for its digital visa application procedures to speed up the process and soon will be available to international visitors. Similarly, Alternative Airlines, a UK-based travel firm, has inked a deal with Utrust to allow payments using crypto.

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Author: Joseph Kibe

New Wirex Visa Travelcard To Reward Users With 1.5% in Bitcoins on All In-Store Purchases

Crypto and fiat multi-currency accounts provider, Wirex has officially launched its travel Visa card as of Monday, November 11, 2019. Considering the fact that the firm focuses on establishing connections around the world with its services, the new travelcard will first be made present in the Asia-Pacific region, namely, Singapore, Taiwan, Hong Kong, South Korean, Australia, New Zealand, Thailand, and the Philippines.

As per the press release, the travelcard is compatible with over 150 distinct cryptocurrencies and allows users to connect multiple fiat currencies. Together, these features are expected to help customers avoid unwanted expenses that typically arise from traveling (i.e. money exchange).

In addition to helping customers use money wisely, the firm has created a Cryptoback program, where customers who make in-store purchases will be given the opportunity to earn 1.5% in Bitcoin.

CEO and Co-Founder of Wirex, Paul Matveev expressed delight in being able to provide such an experience for his customers, adding that it is a great way to let them have full control over their money for whatever travel reasons.

He further noted that:

“We have witnessed an explosion in demand for hybrid fiat and cryptocurrency-enabled banking alternatives in APAC, where people need payments redesigned for the future.” He went on expound on the firm’s offerings, which he deems are, “More than just the next stage in the platform’s growth strategy; it is a tangle example of our mission to provide a genuine alternative to conventional financial services.”

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Author: Nirmala Velupillai

Webjet Debuts New Hotel Booking Verification Blockchain based on Microsoft Azure

Webjet, a leading digital travel agent is excited to launch its blockchain platform with an objective of eliminating the existing disparities in hostel booking processes and data. The new project, Rezchain, is an application that will help address overcharges and reservation snafus in hotel booking by tracing data mismatches between booking agents, hostels and customers.

According to the company, such errors occur in about 5% of all hotel bookings. The application will send alerts to the interested parties if any are found. Such errors cause many firms to suffer financial resource losses. Besides the financial exposures, the reconciliation process is painful and time-consuming.

Webjet was launched two decades ago in 1998 as an online travel agent company operating in North America, Southeast Asia and Australia. The company has a project called WebBeds that offers a Business-to-business accommodation online platform.

“Mistakes should be expected from multiple IT systems that speak different languages. Writing off debts remains as the last resort whenever the situation is not clear. That has been a cost of doing business for decades, but the industry does not have to suffer from that anymore,”

said John Guscic, the managing director at Webjet.

Webjet believes it will leverage blockchain technology distributed nature by employing early warning systems via Email and a “virtual handshake”. Rezchain will store information in a shared ledger which will give all parties interested in online booking access to timely information. The application has been built on what we can refer to as a private version of Ethereum.

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Author: Denis Miriti