According to an official press release, the SIA Group’s KrisFlyer frequent-flyer programme is aiming to launch world’s first blockchain based airline loyalty digital wallet. The digital wallet app will involve only merchants and partners and expects to go live in about six months.
SIA’s launch of KrisFlyer into digital wallet
Following the hype of blockchain integration, the largest airline operator, Singapore Airlines(SIA) is heading up with blockchain technology. The app will go live in about six months. However, the KrisFlyer app will enable users to spend air miles at retail partners for point-of-sale transactions.
The release reads as;
It will allow the extensive KrisFlyer membership base to use ‘digital KrisFlyer miles’ for point-of-sale transactions at participating retail merchants.
It has tested as a proof-of-concept in collaboration with KPMG Digital Village and Microsoft. With the base as frequent flyer points, SIA’s point of contact will be even closer to retail partnerships. Therefore it enables users to spend their points as well.
SIA CEO Goh Choon Phong, in an official press statement, stated,
“Innovation has been a key contributor to the success of Singapore Airlines since Day 1 and we are very wondering about this world-first initiative. However which will bring even more benefits to members of our KrisFlyer programme”.
Mainly, in the Singapore market the KrisFlyer will signing up private owned blockchain, including only merchants and partners in the network. Therefore, the digital wallet app will be accessing through blockchain technology.
“This groundbreaking development in which we will be using blockchain technology to ‘digitalise’ KrisFlyer miles. It is a demonstration of the investment we are making to significantly enhance the digital side of our business. Thus it is 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”.
Significantly, the new project based on blockchain technology is adopted by airline operators is to enhance their operations.
However, SIA is not the first firm in Airline industry to employ blockchain technology, back in January 2018, Brisbane airport in Australia had initiated bitcoin payments on dining facilities and terminal shipping. Additionally, Surf Air, the US airline aiming to accept digital currencies for ticket payments. Also, S7 the Russian airline to explore blockchain tech for flight tickets.