KrisFlyer, the frequent flyer program of Singapore Airlines, today announced that it will launch a blockchain-based loyalty points wallet for its members.
The airline will launch the new app within the next six months. It will utilize a blockchain-based wallet.
The airline is focusing on offering a diversified service to its loyal members, and with this new wallet frequent flyers will be able to use the loyalty points with any of Singapore Airlines’ retail partners by using the point-of-sale machines for everyday purchases.
Choon Phong, CEO of Singapore Airlines, said: “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.”
The airline collaborated with KPMG Digital Village and Microsoft to test the proof-of-concept and is now partnering with Singapore-based retail businesses. It is also planning to include international retailers in the offer.
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“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,” added Mr. Phong.
Last month, Singapore Airlines announced that to remain competitive among its international rivals, it will invest “hundreds of millions” of dollars over the few years to improve its digital technology.
Meanwhile, other airlines are also exploring options to introduce blockchain-based technology in their day-to-day operations. Lufthansa Airlines from Germany and Air New Zealand partnered with Switzerland-based blockchain startup Winding Tree to develop blockchain-based travel apps for ticket distribution and to provide customers with better services.
Last year, Russia’s biggest airline, S7, partnered with Alfa-Bank, Russia’s biggest private bank, to introduce blockchain-based ticket issuing system using the Ethereum blockchain.
Singapore Airlines will develop its own private blockchain for its new services.