Singapore Airlines are one of the world’s most prolific airlines. Covering 64 destinations and carrying their passengers in great luxury, customer service is a key part of the Singapore Airlines business plan and indeed, so it should be.
As a result of this, the company have today announced that they will be developing a new customer rewards scheme to reward frequent fliers who use Singapore Airlines services. Of course, within the trend, the new scheme will utilise blockchain technology. Why wouldn’t it though, it’s the future, right?
The new system, called KrisFlyer, uses blockchain technology to facilitate a miles based wallet. As customers accrue air miles with Singapore Airlines, their custom is converted into a digital mile, or a token, one that can be used within Singapore Airlines and their numerous partner organisations. The more miles a customer racks up, the more free tokens they have to spend which in turn will be available to spend on a number of different products, including food and retail.
According to RTT News:
“Once transferred, KrisPay miles have a validity of six months. The members can use as little as 15 KrisPay miles, which is equivalent to about S$0.10, to make the transactions. The wallet will be accepted at 18 merchants initially, spanning different categories of beauty services, food and beverage, petrol and retail.”
See the full report for yourself, here.
This is obviously advantageous to both the airline and its customers. By having a rewards scheme in place, Singapore Airlines can guarantee a cohort of returning customers. Likewise, as a customer you instantly become more likely to choose Singapore Airlines if you have had a good experience with them in the past and of course can be rewarded for the privilege.
Moreover, this in turn presents a working model for blockchain technology and cryptocurrency to thousands of customers who might otherwise see no use for the technology. Therefore, the wider implications for this are simple, this technology will help more and more people develop a real interest in cryptocurrencies. This is indeed a very good thing.
Cryptocurrency reward schemes are starting to crop up in more and more arenas. The more companies that get behind this technology, the more we will see changes take place in how blockchain technology can offer solutions for customer service. With Singapore Airlines on board, we can only expect other rival airlines to follow suit. This promises to span to intercontinental lengths and perhaps the KrisFlyer model can inspire airlines worldwide to do the same thing, which in turn means we as customers, see a real benefit.