A loyalty wallet will be made on a blockchain

Singapore Airlines (SIA) is set to launch a blockchain-based digital loyalty wallet
06 February 2018   258

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.”

Electroneum to update its blockchain

Electroneum announced that new code will be released on May 30 as its blockchain reaches Block 307500
26 April 2018   50

Electroneum announced its fork is scheduled to take place at block 307500 on May 30. The fork is special as it will not result in two currencies: this is achieved by allowing all the exchanges and pools to update their software in advance. The update covers the following aspects

  • anti-ASIC code:

the implementation of such code will ensure security against any network attack

  • increase of transfer fee:

to ensure Electroneum blockchain withstands blockchain flooding, base fee will be increased to 0.1 ETN

  • block size increase before penalty:

the increase will allow miners to scale the blocks faster and get more transactions into a block

  • disabling of RingCT and Mixin:

disabling some privacy features with letting wallets remain private will get a less wait to fit a transaction into a block and a leaner blockchain size

  • 3 days mempool life:

it will ensure a reduction of the possibility of the returned transactions

Readers will be able to find the rest of the remaining details of the update here. As for the market indicators for Electroneum, here is what they look like at the moment of publication:

  • Average price   $0.024453
  • Market cap         $166,770,279
  • Volume (24H)    $1,234,100