Great idea, it is a trading pit issue, not a database issue. Mr. Bastian wants the airline frequent flyer coin, and it tracks the median cost of a typical airline ticket. If he pursues that goal, the the compact structure of the coin, its generator, will contain any information about the typical customer he needs. Further, the frequent flyer coin also prices many hotel discounts, and should provide pricing for most hotel branded smart cards. The net result is end to end reduction in inventory volatility for the traveler.
Some airlines see technology as a potential money maker by turning their planes into flying e-commerce platforms with hundreds of captive customers.Bastian said he isn't interested in going down that route. Instead, he wants technology to help his airline better understand and interact with its customers. In turn, improving the flying experience and strengthening Delta's core business."I've told our people that next to them, technology has to be our competitive advantage," the Delta CEO said. "We are in the business of building relationships and our technology allows us to build intimate relationships with 180 million customers a year and you can only do that through technology."Bastian's big tech goal in 2018 is what he calls "building a single view of the customer." That means unifying all of Delta's various customer databases to create a more holistic view of and a better understanding of the people who fly with the airline."The real opportunity for us is to get a better view of who you are so that we can better serve you," he said. "We can get you what you need before you even realize you need it and be able to better take care of your needs not just from a sales standpoint, but more importantly, from an experience standpoint."The basis of the coin is simple, one coin is redeemable for 15% of the median price of an airline ticket in the dominant pricing currency. Anywhere in the world where the airlines produce accurate data, the coin will trade for the airline ticket prices in that locality. The airline signs up to produce the data stream, but it may or may not accept the coin at all, but any competitive argument has that airline trading the coin, to it advantage. Or, equivalently the flyer or the airline can convert the coin to local prices and cover the 15% in local currency.
Thus, the commonality coin is an FX transfer tool, only accurate if you are trading airline tickets, and there is a lot of reasons to be trading airline tickets, the frequent flyer coin is just the technology. We can see, than, this coin is the standard for most major travel expenses including hotels, food and entertainment; as well as location. Actually, it would steal a lot of business from bitcoin.
Simple idea. We have automated a negotiating process between travel consumer and travel providers. Hence, the future becomes a little more accurate for everyone.
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