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.
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Singapore Airlines image via Shutterstock