On Monday the 24th of July, a Russian airline [Airline S7] launched the use of a blockchain platform as a vehicle for ticket sales and issuing. This represent a significant step by the Russian part towards a future that is well supported by the era-changing blockchain technology which potential is being recognized worldwide.
According to a report that was announced by a well known Russian magazine Kommersant, it was stated that:“Airline S7 started selling tickets using and Ethereum Blockchain on Monday. This step is strongly supported Alfa-Bank, which was made to simplify payments and decrease settlement times between airlines and agents — a process that usually takes two weeks.”
As it is known, sometimes competition is what brings the best out of you, this move by S7 may have been done to get a step ahead of Aeroflot that released a request for proposals on how to incorporate cryptocurrencies into their own services.
S7’s decision to start applying the technology [Ethereum] reflects two trends in the world of blockchain. First, Russia’s interest in the technology. This is reflected by the central bank testing an Ethereum-based blockchain system and Vladimir Putin optimistically announcing that blockchain is:“essentially the foundation for creating brand new business models” at the St. Petersburg Economic Forum.
The second in row is the utilization of Ethereum and the technology around the world as it is getting implanted to be used for more everyday transactions as possible. The system has been adopted by shipping companies such as Maersk and retailers like Walmart to keep track of shipments, and if S7’s integration is successful, citizens outside of Russia could soon find themselves booking their own travel on the blockchain.