The Singapore office of PMG International recently revealed that it has teamed up with Microsoft and SIA for developing one of the first airline loyalty-based blockchain projects. The project termed as KrisPay digital wallet will help the KrisFlyer members of SIA to spontaneously convert KrisFlyer miles into tokens. The transactions with this particular digital wallet can be conducted with the participating merchants.
Incidentally, SIA started developing this new digital wallet after its proof-of-concept development program in February 2018 became successful. With KrisPay digital wallet, it will be easier for the SIA clients to convert their airline miles into points which will be directly added into their KrisFlyer account.
Also, it will allow the Singaporean airline company to carry on transactions with new partners as well as reconciles payments through blockchain technology. The Head of Digital Village of KPMG in Singapore, Jan Reinmueller said that the KrisPay blockchain-based digital wallet offers a straightforward process with the help of which participating traders and merchants can connect easily with the program.
According to Reinmueller, such blockchain projects offer customers the ability to make a purchase using their tokenized miles. Importantly, every real-time customer transaction is time-stamped via a distributed ledger to enable remarkable cost and time efficiencies.
According to Bitcoin Exchange Guide, the Digital Village team of KPMG applied myriad solutions and experiences in architecture, graphic design, and cybersecurity for satisfying the different requirements for KrisPay blockchain.
The project has received good support from leading IT Company, Microsoft. The Enterprise Commercial Director of Microsoft Singapore, Andres Ortola stated that KrisPay has proved how blockchain can offer new experiences for both partners and the customers. The entire project has been developed with the contribution of blockchain technology and Microsoft Azure from Microsoft and innovative technology from KPMG.
Another blockchain-based project that is pioneering new developments in this sector is a joint venture between National Trading Union Congress (NTUC) and Huobi Group. CCN reports that this joint effort will promote blockchain education by introducing a series of courses that will focus on important aspects required for developing blockchain projects and distributed ledger technology.
The post Blockchain Projects: KPMG Teams Up With SIA And Microsoft To Develop KrisPay Digital Wallet appeared first on OWLT Market.
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