Russian Airline Operator Trials Blockchain For Tracing Fuel Expenses

Russian air company S7 trialed a DLT-app to trace data and docs to do with refueling airplanes. The airline operator is working on this along with Alfa-Bank

Mon, 27/08/2018 - 15:04

Russian Airline Operator Trials Blockchain For Tracing Fuel Expenses

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S7, the second-largest air company in Russia, has trialed a DLT-app which deals with tracing data and documentation to do with refueling airplanes.

The airline operator is working on this along with other large businesses in this industry and Alfa-Bank, Russia’s private bank.

The app sends the data on fuel demand to the partners of S7 via the shared network and helps make payments for fuel via the same Blockchain. Smart contracts are also involved.

The purpose is to make transactions faster "without requiring advance payments and bank guarantees,” according to an official statement. The transaction via smart contract took 60 seconds.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.