An Airline Just Started Using Ethereum Blockchain to Issue Tickets
On Monday, Russian airline S7 began using Ethereum blockchain platform for their ticket sales. A surprise move from Russia since they banned Bitcoin and mining for so long and could get in real trouble even as a miner.
This is evidence of both Russia's interest in the technology and a worldwide shift toward a future supported by blockchain.
Russian magazine Kommersant has reported that the airline S7 began selling tickets using an Ethereum blockchain on Monday. The country’s largest private financial institution, Alfa-Bank, is supporting the move, which was made to simplify payments and decrease settlement times between airlines and agents — a process that usually takes two weeks.
The decision may have been made to get ahead of another Russian airline, Aeroflot, which recently released a request for proposals on how to incorporate cryptocurrencies into their own services.
S7’s decision to utilize Ethereum represents two wider 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.
In your opinion is this the beginning of a worldwide integration of blockchain technology into everyday transactions? or simply a marketing stunt to show how up-today they are in terms of technology.
As an investor, this only indicates that the price of Ethereum and other blockchain projects have more way to go as more and more retailers, shipping companies, and other industries will start using the blockchain for their businesses and day to day transactions.
Disclaimer: Invest at your own risk, and do not take the above information as an indicator for future value
Original article: https://futurism.com/
Image 1 Source: https://Jetphotos.net
Image 2 source: https://i.ytimg.com
Stay tuned @digdaga for more blockchain news
Wow that's incredible. The Russian airline is really jumping ahead of the curve with rollout of blockchain, I thought it would take a bit longer to roll it out tbh just because in my subjective opinion, I don't think majority of the people are familiar with cryprocurrencies
I hope we will accelerate faster from here on, as every company is trying to stay ahead of its competitors, and the blockchain seems to be the latest trend now. Honestly, i did not expect Russia to be the first in integrating blockchain technology because one year ago mining was banned and could get you to jail.
Staying ahead or at least with the trends is vital. In this day you don't want to fall behind. After after bitcoin's success, people are waking up and paying more attention to crypto-currencies.
Agreed! Stay ahead or slowly fade away like Blockbuster
Hope more will wake up, and see the potential of this technology.
Thank you for sharing 😊 @digdaga just give you up vote
thank you @sakhone
How are they using Ethereum? Can you simply purchase a ticket with Ethereum or did they build something fancier on the blockchain?
This kind of thing is good for the ecosystem regardless; but it would be more exciting if they are truly leveraging the platform.
I think more like building an app on top of Ethereum, still not sure about the exact details. Regardless, i think sooner or later they will have to face the fact that they need to use accept the fact that this technology is going nowhere and it is here to stay and more will come to build on top of it and accept it as a payment platform as well.
Payment platform for sure; but it would also be very interesting to see a DAPP that allows you to select flights, seats on those flights, & so on.
Kewl Stufff, Dig!
Thank you @underground, will keep digging for cooler stuff!
Big news! Thanks for sharing!
Thank you @skycornish