Singapore Airlines has now chosen blockchain technology to enhance its frequent-flyer programme. This frequent-flyer programme, KrisFlyer, will operate under a private blockchain for which a new digital wallet app will be created.
In other words, you can earn, store and redeem your KrisFlyer miles through this new app. As per the recent PR, this is going to be the “world’s first blockchain-based airline loyalty digital wallet.”
With this move, KrisFlyer will also be signing up with several retail merchant partners to expand its reach. In fact, a collaboration has already been carried out with KPMG Digital Village and Microsoft.
It’s A Good News
As blockchain brings transparency, faster transaction, with lower transaction cost, this move is going to positively impact the airlines.
It is also important to talk about KrisFlyer here. This frequent-flyer program has been popular for several reasons. One, for consistently offering registration promo code to new users. And two, for extending each mile expiry by 3 years.
Plus, as KrisFlyer has partnered with Citibank and American Express, one can transfer all the points, or pool them from different cards and carry out activities easily. The same, we believe, will be achieved through the digital wallet app.
KrisFlyer digital wallet launch: within the next six months.