The American SIA Group and its KrisFlyer programme are preparing to launch the world’s first loyalty digital wallet based on a blockchain algorithm. The project is going to be active in six months.
The new program is about to introduce Singapore to the retail digital market. It will be designed to help KrisFlyer’s members to use “digital KrisFlyer miles” with which they will have the opportunity to participate in the transactions offered by the retail merchants.
SIA Group is an American company that takes care of business strategies and insurance products. It was founded in 1975 as a traditional insurance agency. Today, SIA Group is recognized as a “Top 100 Privately Held Property Casualty Agency”.
KrisFLyer is a Singapore Airlines- based frequent flyer programme, which rewards customers for choosing their services. Travelers get KrisFlyer miles while flying, using a credit card to buy the tickets, book a hotel, rent a car or even making a phone call. The programme has over 200 partners. So, once you choose them it’s a win-win game.
The world’s first loyalty digital wallet will be designed on a blockchain technology, using a SIA Group’s private platform that involves only traders and partners.
The CEO of Singapore Airlines, Goh Choon Phong claimed about this project that “Innovation has been a key contributor to the success of Singapore Airlines since Day 1 and we are very excited about this world-first initiative, which will bring even more benefits to members of our KrisFlyer programme”.
He also added that “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. It is in line with our recently unveiled Digital Innovation Blueprint, under which we aim to be the world’s leading digital airline.”, replied a Sri Lanka’s media.
This is the first of its kind project in Singapore. It will be launched in the third quarter of 2018 and seems to be a promising intention. For new updates, do not hesitate to follow SIA Group and Singapore Airlines’ websites.