VTB rolls out blockchain-enabled payments

This payment system helps airlines pay for the fuel directly through a financial transaction. To refuel an aircraft, the pilot needs to make a digital request to buy fuel from a tablet. The bank automatically puts a hold of the required sum from the airline's account until the refuelling process is completed. Once the job has been carried out, the funds are transferred to the bank account of Gazpromneft-Aero.

The details of the completed blockchain-enabled transactions are documented and made available to all the participants. Information from the system is synchronised into the airline's electronic logbook as well as into the digital aviation fuel accounting system of the refuelling lorries, making the refuelling and the data exchange process fully automated.