Singapore Airlines is set to launch what it termed a “world-first blockchain-based airline loyalty digital wallet capability” to allow its KrisFlyer membership base to use “digital KrisFlyer miles” for point-of-sale transactions at participating retail merchants.
This digital wallet app for an airline loyalty program will be enabled through blockchain technology, using an SIA-owned private blockchain involving only merchants and partners.
According to the airline, it recently conducted a successful proof-of-concept exercise in collaboration with KPMG Digital Village and Microsoft. KrisFlyer will now be signing up retail merchant partners, initially in the Singapore market, the airline stated.
“Innovation has been a key contributor to the success of Singapore Airlines since Day 1 and we are very excited about this world-first initiative, which will bring even more benefits to members of our KrisFlyer programme,” said Singapore Airlines CEO Goh Choon Phong.
“This groundbreaking development in which we will be using blockchain technology to digitalize KrisFlyer miles is a demonstration of the investment we are making to significantly enhance the digital side of our business for the benefit of our customers,” added Phong.