Russia’s Biggest Airline Starts Using Blockchain

In News
Russia

Russian airlines are at it again!

S7 Airlines, legally PJSC Siberia Airlines is an airline headquartered in Ob, Novosibirsk Oblast, Russia, with offices in Moscow. As of 2008, it was Rssia’s biggest domestic airline.

Russia’s biggest airline is now issuing passenger tickets on a blockchain with support from the country’s largest private bank.

According to a local report by the media outlet Kommersant, the airline S7 and its ticketing agent S7 Ticket reportedly began the sales on the ethereum blockchain this week. Lending support is Alfa-Bank, Russia’s biggest private banking institution.

The report notes that the platform is designed to reduce settlement times between between the airline and the agent, which today take around two weeks. It further strives to streamline the payment process by deducting the agent commission automatically after ticket sales to reflect the final receipt.

As such, the collaboration can be seen as an early attempt in the industry to use ethereum technology in simplifying the airline ticketing process, though this has long been suggested as a possible blockchain use case.

The report does not specify whether the platform is built on a private or public version of ethereum.

Previously, S7 Airlines and Alfa-Bank were reported to be exploring the use of smart contracts in tracking letters of credit

via Coindesk


You may also read!

Cryptocurrency

Cryptocurrency Investments Continue Despite Skepticism

Since the introduction of cryptocurrency in the market, skepticism cannot be disregarded but investors continue to capitalize until now

Read More...
text messaging

No More Net Neutrality For Text Messaging Either

After picking on the internet, the Federal Communications Commission is now focusing on how it will kill net neutrality

Read More...
internet

Even Rural Areas Must Have Fast Internet

The internet was created for everybody and not just for those who can afford it. Presently, the broadband is

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu