Singapore Airlines will launch a blockchain-based “digital
wallet” for members of its KrisFlyer loyalty program.
The airlines says the program will roll out in about six
months and will allow members to spend their KrisFlyer miles at participating
retail partners.
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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,” says Singapore Airlines CEO Goh
Choon Phong.
“It is in line with our recently unveiled Digital Innovation
Blueprint, under which we aim to be the world’s leading digital airline.”
Singapore Airlines tested the concept in collaboration with Microsoft
and KPMG Digital Village, a Singapore-based initiative to facilitate
collaboration between startups and corporations.
It’s now signing merchants to
be part of the system, initially starting in the Singapore market.
The system will use a private blockchain owned by the
airline and accessed through a KrisFlyer digital wallet app.