Topic: [2017-07-28] Russian Airline Use Employs Ethereum Blockchain (Read 4011 times)
This is a great move for ethereum. In the near future, I look seeing a close battle for number 1 between bitcoin and ethereum. Bitcoin is way on top now as far as the headlines is concerned. Ethereum, as I observe it, is making a name on its own. Slowly but surely.
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Ethereum blockchain is expected to automate all stages of bookings and improve flight tickets sale.
Russian airline PJSC Siberia Airlines has partnered with Alfa-Bank to employ the Ethereum blockchain for flight tickets sale.
The airline known as S7 and Alfa-Bank have initiated the project aimed to speed up payments leveraging the advantages of the blockchain.
The first attempt to process the service payment basing on the Ethereum blockchain smart contracts through a letter of credit with Alfa-Bank was made last December. As a result, the airline came up with a customized platform that automates all stages of bookings including execution of payment application, verification of adequacy of funds deposited in the account, writing off of amounts and status updates.
“We have made the world’s first transaction for flight ticket purchases through the open API [application programming interface] blockchain to the bank, but I am sure that such a pattern will soon be used by many companies all over the world,” Pavel Voronin, deputy general director for information technologies at S7 Group, said. “The blockchain platform allows optimizing business processes significantly. It automates any mutual payment pattern, even a very difficult one, such as warehouse supplies, for example. Human participation is almost unnecessary when using such an instrument: there is no need to issue invoices, perform reconciliations, and prepare certificates.”
S7 unveils an ambitious roadmap planning to extend the platform for non-ticketing purposes as well, including its transactions with caterers, and fuel and airport service providers.
Whole Article Here.
I am sure that this will not be the last good news for the Ethereum blockchain. Though right now there is a persistent mood of gloom for the Ethereum, some barrage of good news is all it takes to make Ethereum smell again in the eyes of cryptocurrency investors and buyers. I have my share of Ethers and though it is painful to see its value go low, I am confident that soon it can be able to be back on track for more growth.
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