Singapore Airlines Group’s frequent-flyer programme, KrisFlyer, has launched a world-first blockchain-based airline loyalty digital wallet to unlock the value of KrisFlyer miles to enable everyday spending at retail partners. The technology is expected to operate 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.
Singapore Airlines CEO, Goh Choon Phong, said, “This ground-breaking 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.”
The first-of-its-kind lifestyle digital wallet app will be enabled through blockchain technology, using an SIA-owned private blockchain involving only merchants and partners.