If you travel on a budget most times across the world, then you have probably heard about Norwegian Air. They are one of the most popular airlines in Europe due to their low-cost policy. They are in the news once again for all the right reasons. The airline has announced that they would now accept bitcoin as a means of payment on the air transport. This is not where the news ends. The airline has also said that they would now be setting up a quasi-bank like structure which would help them with a cryptocurrency exchange system.
This move is seen by most people to be a move in the right direction. It is also set to win them some favors as the Norwegian air plans to expand their sphere of operations into other nations around the world. This is set to be a welcome boost as there have been reports that they are currently cut up in a financial struggle.
The first step in the right direction
Due to the establishment of the block exchange by the Norwegian authorities, the airline would first make it possible for all passengers who are traveling from Norway would be able to buy all tickets through the use of cryptocurrencies. After this, it is said that the airline would extend these opportunities to all other countries close by.
The move which is thought to be great news is said to be the product of Lars who is now the CEO of the airline after taking over his dad Kjos. This is reasonable as the CEO is said to have made a lot of investment into the cryptocurrencies and is looking to advance them as much as he can. This would explain why he is taking great strides to make sure that it is made available to the airline.
The airlines are pretty massive, to say the least. They are said to own about 195 air vessels and are open to following about 500 routes across the globe. One of its unique features is that they have very low prices which sits pretty well with their passengers.
While they are the latest airlines to embrace the notion of cryptocurrencies, they are not the only airline to have done so. A classic example of another airline is abitsky. Apart from airlines, there are a lot of travel agencies who make use of cryptocurrencies for their clients. A fitting example would be CheapAir.
Airlines are not the only mode of transport who are warming up to cryptocurrencies. In other countries, cryptocurrencies are being used in the transport system for buses and railway stations. Australia is also on the verge of using the cryptocurrencies for grocery stores which is remarkable by its very nature.
As the world keeps on integrating cryptocurrencies into the various systems, the change is becoming inevitable. However, more is needed if we are to see cryptocurrencies play a more dominant role in the financial system as we know it today.
photo source: © shutterstock.com by Sorbis
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