Singapore airlines in partnership with the tech giant company microsoft corporation and KPMG has developed a blockchain based walled named ‘KrisPay’.
The airlines in a press release stated that the customers who sign up with the loyalty program will be able to download an app to a mobile phone. These customers will then be able to convert their miles into KrisPay units and then further user these KrisPay units at various retailers end for a wide range of things by simply scanning and paying via a QR code.
The Company has current tie ups with 18 different retailers currently in Singapore only ranging from parlours, gas stations, store outlets etc. Many more merchant partnerships are expected to add to this list in future.
The testing of this blockchain based digital wallet is already done by the airlines company late in february this year using a successful Microsoft authenticator concept trail. Most recently Microsoft has been also trying to integrate with the blockchain based decentralised application which in partnership with the airline units will prove a major turn for the future development of the Blockchain technology.