Huafu forms links to promote ALLN cryptocurrency

Huafu Enterprise Holdings Ltd (樺福集團) yesterday announced a collaboration with regional exchange service providers to expand utilization of its cryptocurrency and link with the real economy.

The move came as Huafu and its partners decided that cryptocurrencies such as its Airline and Life Networking (ALLN) token cannot thrive without applications in economic activities.

“We are in talks with more potential partners to make ALLN more useful and popular, first in the tourism industry and then in other sectors,” Huafu chief operating officer Tseng Chin-chih (曾金池) told a media briefing.

Investors in ALLN can fly with Far Eastern Air Transport Corp (FAT, 遠東航空), a Huafu affiliate, and stay at Huashe Hotel Kaohsiung (樺舍旅店) with 40 percent discounts, Tseng said.

The firm has sold 1,000 FAT tickets since the launch of ALLN in August and aims to raise the utilization to 20,000 flights or related products in the near future, Tseng said.

However, he refused to set a timetable or elaborate further due to confidentiality concerns.

“ALLN can serve as a transaction channel for making contracts, consumption and asset allocation, realizing infinite applications of the cryptocurrency,” Tseng said. “We hope more corporations would take part and bring Taiwan’s economy into the next era.”

Huafu, which is also involved in real-estate development and leisure facilities operations, is forming alliances with leading firms in the industry, such as blockchain incubator MOBC, Southeast Asia’s biggest digital asset exchange MBAex and Maxonrow, the world’s first blockchain with instant verification to comply with policy guidelines and international regulations.

The ALLN coin is changing the way real economy businesses interact and develop by utilizing blockchain technology, MBAex chief executive Sebastian Diaconu said.

“Blockchain technology’s success is dependent on the adoption and utilization by real economy businesses, meaning it must relate with a real asset, business or value to have a future,” he said.

Tourism and real-estate are a good combination to create a real consumption ecosystem for a blockchain business model to be adopted by others, Diaconu said.

Maxonrow CEO for Asia Jin Tai (金泰) said that ALLN is the world’s first aviation tourism blockchain asset, a new milestone for FAT and a turning point for Taiwan’s economy.

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