Singapore Airlines said it will utilise blockchain technology in its loyalty programme.
It will be powered by a new digital wallet app to monetize frequent flyer points.
Speaking at the Singapore Airshow Aviation Leadership Summit, Singapore Airlines CEO Goh Choon Phong said it is just one part of the airline’s Digital Innovation Blueprint, and the digital wallet function will roll out later this year.
"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," Goh said.
"I think we are the first airline to do it. We’re showing just how serious we are with our vision, which is to be the leading digital airline in the world through our comprehensive digital innovation blueprint," Goh added.
The aim is to enable the digital KrisFlyer miles to be used for all manner of retail purchases
Along with the KPMG Digital Village and Microsoft, SIA developed a private blockchain.
It will incorporate SIA’s KrisFlyer points as well as Scoot’s Plus Perks, and points earned with 20 existing partner airlines.
"They simply need to transfer a preferred amount of their actual KrisFlyer miles to the KrisFlyer digital wallet which can be used immediately at participating retail merchants," the airline said.
