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Singapore Airlines to debut blockchain-based airline loyalty digital wallet

Monday, February 5, 2018 6:14 AM UTC

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Singapore Airlines (SIA) has announced that its KrisFlyer frequent-flyer programme is going to launch a blockchain-based airline loyalty digital wallet capability.

SIA is launching a first-of-its-kind lifestyle digital wallet app for an airline loyalty programme, which uses an SIA-owned private blockchain involving only merchants and partners. It will help unlock the value of KrisFlyer miles to enable everyday spending at retail partners.

“It [The app] will allow the extensive KrisFlyer membership base to use ‘digital KrisFlyer miles’ for point-of-sale transactions at participating retail merchants,” SIA explained.

The app is expected to be rolled out in about six months, SIA said in a media release. It follows a successful proof-of-concept conducted in collaboration with KPMG Digital Village and Microsoft.

“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,” said Singapore Airlines CEO Goh Choon Phong.

Starting with the Singapore market, KrisFlyer will begin signing up retail merchant partners.

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Market Data

Market-moving news and views, 24 hours a day >

FRENCH EUROPEAN AFFAIRS MINISTER SAYS, ON ITALY, NEITHER POSSIBLE NOR DESIRABLE TO GO IT ALONE IN EU

SERBIA'S CENTRAL BANK BUYS EUROS TO STEM DINAR GAINS - DEALERS

BRAZIL GOV'T ESTIMATES 2018 PRIMARY DEFICIT WILL BE 6.198 BLN REAIS SMALLER THAN TARGET (PRVSLY 1.557 BLN REAIS)

BRAZIL GOV'T RAISES 2018 PRIMARY EXPENSES FORECAST BY 1.423 BLN REAIS

BRAZIL GOV'T RAISES 2018 NET REVENUE FORECAST BY 6.064 BLN REAIS

BRAZIL GOV'T FORECASTS 3.11 PCT 2018 INFLATION RATE (PRVSLY 3.64 PCT)

BRAZIL GOV'T CUTS 2018 GDP GROWTH FORECAST TO 2.5 PCT (PRVSLY 2.97 PCT)

TURKISH LIRA WEAKENS TO RECORD LOW OF 4.66 AGAINST DOLLAR

MEXICO MAR RETAIL SALES MM DECREASE TO 0.9 % VS PREV 1.6 %

MEXICO MAR RETAIL SALES YY STAYS FLAT AT 1.2 % (FCAST 0.8 %) VS PREV 1.2 %

RUSSIA APR UNEMPLOYMENT RATE DECREASE TO 4.9 % (FCAST 5 %) VS PREV 5 %

RUSSIA APR REAL WAGES YY DECREASE TO 7.8 % (FCAST 5.9 %) VS PREV 8.7 % (REVISED FROM 6.5 %)

RUSSIA APR RETAIL SALES YY INCREASE TO 2.4 % (FCAST 2.5 %) VS PREV 2 %

UNITED STATES W/E REDBOOK YY DECREASE TO 3.2 % VS PREV 4.9 %

ITALY'S 10-YR SPREAD VS GERMANY WIDENS BY 7 PBS TO 180 BPS, TRADERS CITE REPORT OF EUROSCEPTIC ECONOMIST PAOLO SAVONA INDICATED AS ECONOMY MINISTER IN NEW ANTI-ESTABLISHMENT GOVT

PHILADELPHIA FED WAGE AND BENEFIT COST INDEX 46.4 IN MAY VS 28.3 IN APRIL

PHILADELPHIA FED NON-MANUFACTURING FULL-TIME EMPLOYMENT INDEX 7.7 IN MAY VS 15.8 IN APRIL

PHILADELPHIA FED NON-MANUFACTURING NEW ORDERS INDEX 36.2 IN MAY VS 12.5 IN APRIL

PHILADELPHIA FED NON-MANUFACTURING FIRM-LEVEL BUSINESS ACTIVITY INDEX 39.5 IN MAY VS 26.0 IN APRIL

PHILADELPHIA FED NON-MANUFACTURING REGIONAL BUSINESS ACTIVITY INDEX 45.3 IN MAY VS 27.6 IN APRIL

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FxWirePro: USD/THB fails to find support above 32.22 mark, Thailand’s trade balance data in focus

Economics Monitor

May 22 13:00 UTC Released

MXRetail Sales MM

Actual

0.9 Bln ZAR

Forecast

1.6 Bln ZAR

May 22 13:00 UTC Released

MXRetail Sales YY

Actual

1.2 %

Forecast

0.8 %

1.2 %

January 31 00:00 UTC 160651160651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 31 00:00 UTC 160651160651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 22 19:00 UTC 172471172471m

ARTrade Balance

Actual

Forecast

-1541 %

January 31 00:00 UTC 160651160651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 22 19:00 UTC 172471172471m

ARTrade Balance

Actual

Forecast

-1541 %

January 31 00:00 UTC 160651160651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 31 00:00 UTC 160651160651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 31 00:00 UTC 160651160651m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

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