Fat Taiwan Airline Accepts Bitcoin for Plane Tickets

Passengers of FAT Taiwan can now use Bitcoin to pay for more than 20,000 flights
07 March 2018   227

Taiwanese airline FAT Taiwan Inc. recently announced that it will accept cryptocurrency payments, namely Bitcoin, for tickets and related travel services as it looks to become a pioneer in cryptocurrency adoption within the country’s aviation industry.

Passengers can now use Bitcoin in a convenient and discounted trading experience to pay for more than 20,000 flights.

The airline’s president, Zhang Gangwei, explained that his company has “a bright vision for the future of cryptocurrency” as it proved to be “a significant transaction tool” over the past year.

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.


Zhang Gangwei

President, FAT Taiwan Inc.

FAT’s move marks a growing trend among airlines to provide its customers with as many convenient payment options as possible, not to mention the probable PR boost from associating its brand with innovative technology.

20 % of University Students gain Cryptocurrency with Aid

The Student Loan Report along with Pollfish interviewed 1,000 university students with related loan debt
23 March 2018   157

It took them for 4 days to collect the data (from March, 16 till March, 20 of this year). All the participants were to ask the following question: Have you ever use student loan money to invest in cryptocurrencies like bitcoin?

The results were remarkable. The poll revealed that 21,2  % of current students with the loan debt have used aid money in order to fund a cryptocurrency investment. So, over one-fifth answered in the affirmative.

Drew Cloud, the leader of the Student Loan Report, clarified that the younger Americans are more active investors as they are rather optimistic about cryptocurrency. Therefore the students want to get involved in this subject in any way possible. Drew Cloud sincerely thought the percentage would be lower. He considers that any college student's budget is thin and limited, therefore some extra money may be used on rest, groceries, or books.

The Student Loan Report approved: student loan debtors would be to pull off such a manipulation as they are given their remaining loans to be used on “living expenses”. From time to time they borrow more than they end up needing for studies. College debtors`spending of the money is not officially tracked and this allows the leftover means to be spent in the way preferred by the student. Another important factor is loan debt payments often do not occur until after graduation, and generally 6 months after.

Mr. Cloud claimed that cryptocurrency was the most prevalent investment of 2017. The young Americans consider that digital money is a savvy way to spend their refund checks. Some students even suggest that they would be able to quickly pay their debts off (because “not long ago every virtual currency was experiencing seemingly unstoppable growth”).

A significant shortcoming from the survey are data concerning how much the average student of the university spent of their financial aid on cryptocurrency. It also would have been interesting to know what types of digital means students favoured.