Lufthansa to invest in ICO startup

Lufthansa Group partners with a blockchain travel platform Winding Tree
11 October 2017   3605

Initial Coin Offerings have evolved into one of the most powerful means to gain money for the project. The ones held a successful ICO raise millions of dollars, make partnerships and gain popularity. 

Now, the airline giant Lufthansa joins the blockchain path and even invests in the ICO.

Thus, the Lufthansa Group is working closely with the Switzerland-based startup Winding Tree, that has dedicated itself to the reorganization of travel distribution and built on the Ethereum blockchain. The company believes, that, in the future, airlines, hotels and other travel service providers will offer their services on Winding Tree's platform, and companies interested in content will only connect to the B2B blockchain-distributed digital marketplace to present specific offers tailored to their customers' needs. This will result in a large number of new apps for travelers, who will then be able to book Lufthansa Group flights via the offer that best suits their preferences.

In order to finance the initial development and facilitate acceptance by suppliers, Winding Tree is launching a token sale of its cryptocurrency "Líf" on the 1st of November. To reinforce its confidence in the new technology, Lufthansa Group is participating in the presale after regulatory clearance from Swiss authorities.
 

Markus Binkert
Senior Vice President Distribution & Revenue Management Lufthansa Group Airlines

On top of that, as part of the partnership, Lufthansa will also be investing in Winding Tree as part of its forthcoming sale of a token called LIF, which is to be used for settlement and data transfer.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   102

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.