Singapore Airlines to Launch Blockchain-Based Loyalty Wallet

Singapore's largest airline operator is turning to blockchain technology to boost spending of its loyalty program miles.

In an announcement on Feb. 5, Singapore Airlines (SIA) said it will launch a digital wallet for its frequent-flyer KrisFlyer program in six months that will be powered by a private blockchain.

According to the airline, the blockchain-based wallet will enable members of the program to spend their air miles at retail partners for point-of-sale transactions.

The company said the initiative comes about after a successful proof-of-concept trial in partnership with KPMG and Microsoft, and is currently signing up retail merchants – initially in Singapore – to join the blockchain-based service.

The new project is the latest instance where blockchain technology is being adopted by airline and airport operators to enhance their operations.

As reported previously, Australia's Brisbane airport is rolling out bitcoin payments across some terminal shopping and dining facilities.

While U.S. airline Surf Air has announced plans to accept cryptocurrencies for ticket payments, and Russian airline S7 is reportedly exploring blockchain technology for the issuing of flight tickets.

Singapore Airlines image via Shutterstock