One of the largest hacks of crypto exchanges – Coincheck’s $530 million worth NEM crack – still does not allow Japan fully recover from its consequences. For example, the country’s key low-cost airline, called Peach Aviation, had to review its plans to launch bitcoin payments for its services. Here’s what has changed in the vision of the company and how it is going to deal with new challenges.
Peach’s Way to Bitcoin Payments
Peach Aviation had been planning to allow its customers to use bitcoin-funding methods for quite a long time – since May 2017 – before Tokyo-based cyber money exchange Coincheck lost a massive sum in the hacking attack. Initially, the Japanese low-cost carrier was supposed to accept BTC thanks to the collaborations with cyber money trading platform Bitpoint Japan. Around nine months ago, the companies announced:
“Both companies plan to start the service from the autumn of 2017 and will gradually implement various measures in accordance with various laws and regulations.”
Notwithstanding the above, these plans were not implemented. By the end of 2017, the airline put off the launch of bitcoin payment system until March 2018.
Among company’s plans, there also have been intentions to broaden its BTC payment services via cooperation with regional authorities and firms. At the same time, on par with Bitpoint Japan, Peach Aviation wanted to set up BTMs (bitcoin automated teller machines) at airports and to provide BTC payment scheme in stores and cafes.
These sounded like enormous prospects for the airline, which operates over 90 flights with 13,000 passengers a day, providing its services to 25 internal and trans-border routes. But large-scale ambitions were endangered because of an infamous Coincheck hack – media reported about airline’s ensuing intention to delay the launch of BTC payment system.
So Will Peach Launch BTC Payments or Not?
Despite the fears, the low-cost carrier plans are only going to be delayed. In media, the airline's representative clarified the Peach’s position concerning the launch, saying:
“We are reviewing the timing of service start.”
The spokesperson also added that the reason for the delay is bitcoin's volatility, which has been strengthening since the end of the last year. Additionally, the rep said that the company would be glad to launch the project, but it needs the crypto market to calm down. It was also denied that the airline would give up on the idea. Here’s what the spokesperson said, according to multiple reports:
“I’m actually preparing the settlement system.”
Bitpoint Japan, in its turn, released its claim saying that the firm drudgingly works on the implementation of the BTC payment project.