SINGAPORE (June 4): Rene Konrad earns bonus miles from four airlines, plus loyalty points from six retailers and credit cards. But the one loyalty programme he is most excited about now offers him something different: digital coins.

Before he jumps on the train to Zurich most mornings, Konrad grabs a bottle of Caffe Lattesso. The 41-yearold can get about 12 Lattessocoins by entering a code from the bottle into a website. In a few months, the accumulated coins — which only became available in April — should become tradeable for other digital tokens, as well as cash.

“I don’t know how many airline miles I lost because I didn’t use them fast enough,” Konrad says in a phone interview. “The fiat money no one can take away from me.”

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