Singapore Airlines has officially launched its blockchain-based loyalty programme for frequent flyers.
A digital wallet called KrisPay was developed in collaboration with KPMG and Microsoft and it allows customers of Singapore Airlines to turn travel miles into units of payment. These units can then be spent with partner merchants throughout Singapore. The best bit about the project, however, is the fact that the KrisFlyer programme works via the blockchain in terms of underpinning the clients’ loyalty wallets.
Any customer that signs up for the programme is able to download the application on their mobile device before turning their air miles into KrisPay units. They can then use these units to pay for a range of products and services by scanning a QR code at the point of sale.
So far, Singapore Airlines have announced 18 partners in Singapore such as bars and restaurants, beauty salons, petrol stations, and shops including LEGO. They are expecting the onboarding of more partner merchants in due course and the airline will be offering discounts for users that adopt the programme in its early stages.
The KrisPay programme was announced back in February after conducting various successful proof-of-concept trials with KPMG and Microsoft. Days ago, the airline was announced as the best airline in the world by Skytrax in London and they have fought off stiff competition from the previous winner, Qatar airlines.
But this is not the first example of airlines using blockchain technology. One year ago, Russia’s biggest airline S7 announced that it would be issuing tickets over the Ethereum blockchain with support from Alfa Bank, the countries largest banking institution.
Due to these two proven use-cases, it is expected that many other airlines will look to adopt blockchain technology into various aspects of their operations.