Singapore Airlines' KrisFlyer launches world's first blockchain-based digital wallet

FILE PHOTO: A man looks at a Singapore Airlines (SIA) signage outside an SIA service center in Singapore February 10, 2016.
A man looks at a Singapore Airlines (SIA) signage outside an SIA service center in Singapore. Reuters

Singapore Airlines' (SIA) Krisflyer frequent-flyer programme on Monday announced the launch of a digital wallet that can be used for purchases at retail outlets.

The city-state's premier airline said its new KrisFlyer digital wallet app is expected to be rolled out 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, the airline said in a statement.

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This will be introduced in the Singapore market first after a proof-of-concept exercise with KPMG Digital Village and Microsoft, SIA said.

The first-of-its-kind lifestyle digital wallet app for an airline loyalty programme will be enabled through blockchain technology, using an SIA-owned private blockchain involving only merchants and partners.

"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," Singapore Airlines CEO Goh Choon Phong said.

"It is in line with our recently unveiled Digital Innovation Blueprint, under which we aim to be the world's leading digital airline."

This article was first published on February 5, 2018