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Singapore Airlines says it will give frequent flyers Blockchain point-of-sale transactions later this year in an industry first.
Singapore Airlines will release a “groundbreaking” Blockchain-based app for frequent flyers by August 2018.
In a press release issued Monday, Feb. 5, the airline announced a Blockchain-based app for its KrisFlyer program had passed a “successful proof-of-concept exercise” with Microsoft and KPMG Digital Village.
Now looking to sign up Singapore-based merchants, customers participating in the program will ultimately be able to spend frequent flyer miles at point-of-sale in exchange for goods and services.
“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 customer,” CEO Goh Choon Phong commented.
Blockchain’s entry into civil aviation has accelerated considerably over the past year, with various airlines and airport authorities now studying its uses for increasing efficiency.
Last month, the Canadian government announced a pilot scheme with the Netherlands aimed at leveraging Blockchain to overhaul immigration procedures. Meanwhile, February saw Brisbane Airport become the first in the world to make itself ‘cryptocurrency friendly’.
Speaking at the Singapore Airshow Aviation Leadership Summit this week quoted by Reuters, Phong added he “thought” SIA Group’s project was the first of its kind in the world.
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