Singapore Airlines’(SIA) KrisFlyer frequent-flyer programme is set to launch the world’s first blockchain-based airline loyalty digital wallet, airline announced today.
Through this programme, KrisFlyer frequent flyer miles will be digitalised and can be used for purchases at retail outlets in the near future.
“A new KrisFlyer digital wallet app utilising this innovative technology is expected to be rolled out in about six months. It will allow the extensive KrisFlyer membership base to use ‘digital KrisFlyer miles’ for point-of-sale transactions at participating retail merchants,” said SIA in a statement issued today.
This will be introduced in the Singapore market first after a proof-of-concept exercise with KPMG Digital Village and Microsoft, the airline added.
The first-of-its-kind lifestyle digital wallet app for an airline loyalty programme will be enabled through blockchain technology, using an SIA-owned private blockchain involving only merchants and partners.
“Innovation has been a key contributor to the success of Singapore Airlines since day one and we are very excited about this world-first initiative, which will bring even more benefits to members of our KrisFlyer programme,” said Goh Choon Phong, CEO of Singapore Airlines.
“This groundbreaking development in which we will be using blockchain technology to ‘digitalise’ 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. It is in line with our recently unveiled Digital Innovation Blueprint, under which we aim to be the world’s leading digital airline,” he added.