The modern loyalty program for frequent flyers, by frequent flyers, that’s Transferable, Exchangeable and Decentralized from any Airline alliance. We aim to liberalize frequent flyers miles / points that travellers have earned. We wish to allow flyers to book on more flights and more availabilities by trading their miles among different airlines through the exchange of AirBits.
What it does
AirBits are a universal frequent flyer points which can be exchanged for any Frequent Flyer Miles available in the pool & vice-versa. The fact that frequent flyers have earned their miles, and the ability for them to transfer them to "friends & family" gave birth to allowing peer to peer flyers to trade their miles for AirBits.
How we built it
AirBits has a centralized part which uses Airlines APIs (for frequent flyer programs) and a decentralized part which transfers tokens exchanged for air miles among each other, and redeemable for any other frequent flyer miles available within the pool. Since every transfer that happens in the centralized frequent flyer miles, renews the expiration of the miles for another 12 to 18 months (depends on program).
Frequent Flyers lose more than 64% of their earning through either expired miles, or not accumulating enough on any one airline in order to benefit from their rewards. There are 9.7 Trillion loyalty miles / points that are unused. We would like the owners of these loyalty points to take advantage of their earnings and reap the benefits of their collected points and assure they do not go unused.
- Frequent flyer miles are becoming less valuable (link)
- Booking Availabilities
- Frequent Flyer Miles Expire after a year
- Miles Awards are restricted to pre-arrangement alliances (The Big 3 are: SkyTeam, Star Alliance & OneWorld)
- Back-out dates on some airlines (not same dates for other airlines)
- Collect Miles from many Airlines, therefore not accumulating enough from any one to be awarded a ticket.
- They loose the points if not used
- Travellers feel that they do not gain any real benefits from air miles unless they collect enough, which is hard to do. There are currently 9.7 trillion unused frequent flyer miles around the globe. 64% of travelers say rewards programs are overcomplicated. On top of that, 36% say the points or rewards expire before being able to use them
Challenges we ran into
We ran into issues utilizing Oracalize, however this can be overcome with more time.
Accomplishments that we're proud of
Hopefully the disruption we aim to make in this industry.
What we learned
Discussion with all hackers at the venue about blockchain & solidity.
What's next for AirBits
The team will continue to develop it further.