In the near future, you will be able to use your KrisFlyer miles for purchases at retail outlets when using a new digital wallet app that is expected to be rolled out in the next six months.
The use of blockchain technology to digitalise KrisFlyer miles is in line with the recently unveiled Digital Innovation Blueprint by Singapore Airlines. The platform is expected to be secure as it uses an SIA-owned private blockchain that includes only Singapore Airlines and partner merchants.
While the concept is extraordinary, it would be interesting to see how much value you can get from redeeming your KrisFlyer miles in this manner. After all, most frequent flyers collect miles for future upgrade and reward redemptions. I guess this platform can be useful for those who have spare miles that are on the verge of expiry. The Milelion has worked out the value of miles currently being used to make purchases on KrisShop to be that of around 0.8 cents each, and that may already not be the best way to use your miles. But only time will tell if this new initiative really takes off.