Singapore Airlines to launch world’s first blockchain-based digital wallet for airline loyalty
Singapore Airlines (SIA) announced that it is launching the world’s first blockchain-based airline loyalty digital wallet for its KrisFlyer frequent-flyer programme. A new KrisFlyer digital wallet app is expected to be launched in about 6 months.
According to the press release by SIA, the digital wallet will allow the KrisFlyer members to use their digital KrisFlyer miles for transactions at participating retail merchants. SIA is currently signing up retail merchant partners in the Singapore market to start with.
The digital wallet app will be enabled through blockchain technology, using an SIA-owned private blockchain involving only merchants and partners. The idea came about after a successful proof-of-concept exercise carried out in collaboration with KPMG Digital Village and Microsoft.
“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,” Singapore Airlines CEO Goh Choon Phong said.
This project illustrates SIA’s commitment to invest in the digital side of the business to improve services to customers. It is also in line with the Airline’s recently announced Digital Innovation Blueprint.
As reported earlier, the Digital Innovation Blueprint seeks to establish SIA as a digital aviation and travel experience leader by significantly boosting the airline’s digital capabilities. Under the Digital Innovation Blueprint, SIA also sealed key bilateral partnerships with government agencies and universities, including the Agency for Science, Technology and Research (A*STAR), Civil Aviation Authority of Singapore (CAAS), Economic Development Board (EDB) and National University of Singapore (NUS).