SIA Group’s KrisFlyer, a frequent-flyer program, is going to start its airline loyalty digital wallet - the world’s first blockchain-based solution. The app is expected to be rolled out in approximately 6 months. Thus, KrisFlyer members will be able to exchange their ‘digital miles’ at the shops of the participating retail merchants.
The proof-of-concept made in collaboration with KPMG Digital Village and Microsoft was a success. Now, KrisFlyer will start signing up the merchant partners of the Singapore market. The digital wallet app will be platformed on private blockchain owned by Singapore Airlines that involves only partners and merchants.
The reaction of the Reddit users was mainly skeptical:
@20kjinsatki said “what's the point of moving it on the blockchain when there are many other solutions that do the same thing and are just as efficient/secure”
@CervezaPorFavor said “DOA initiative unless they make conversion rates attractive. Right now, the use of Krisflyer miles for anything other than flight redemption represents extremely poor value; it's a joke. Such a waste of effort and time, when they have more pressing issues to fix, issues that directly affect passengers.”
@Jammy_buttons said “Do they even need block chain to do this? Also I have a feeling that management will be ok with any hype words like fintech, big data etc ”
@dravidan7 said “i will be more happy if never keep devaluing my krisflyer miles.”