CoinDesk reports that 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 mid July 2017, with assistance from the large Russian private banking institution.
The platform is designed to reduce settlement times between the airline and the agent, which today take around two weeks. Furthermore, it aims to streamline the payment process by deducting the agent commission automatically after ticket sales to reflect the final receipt. 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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now