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.
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ReplyDeleteA great piece that sheds much needed light on some of the great theoretical/ideological debates in the contemporary crypto space. At CleanApp Foundation, we appreciate the emphasis on pragmatism, and emphasis on Blockchain/DTL/Crypto projects that offer real social utility. Looking forward to engaging more with your crew!
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