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Russian state owned bank, Sberbank and S7 airlines to roll out flight tickets by tokens.

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Written by   892
1 year ago

The times are changing very fast with major players entering into Blockchain and Cryptocurrency world, not just entering but taking it very serious, neither as way of payment or building infrastructure to cheaper and more fast ways of dealing with immediate needs to solve real problems dilemma.

The largest owned state Russian Bank, Sberbank and the largest domestic firm airline S7 are planning to roll out a system of Blockchain based ticket sale platform, which will solve real "headache" when it comes to settlement time reducing from 10 days to merely 20 seconds.

This collaboration between the two Russian corporations will be firstly focused in corporate customers, that will benefit from the ticket sale platform with instant settlements using smart contracts and tokens. This was propelled by the domestic Russian daily newspaper Kommersant this August 26.

This when happens will be the first time tokens and smart contracts are used for tickets sale payment and settlements in Russia, which is a big milestone reached on Vladimir Putin nation.

The platform of Sberbank, accordingly with Kommersant, will use a based system with unique Blockchain directives that will permit other companies to develop own applications and create own smart contract, and seems that S7 airlines is building the blockchain ticket app on top of that.

Just to note Sberbank is the Russian Financial entity that is planning to create own stablecoin pegged directly with ruble, the Russian national currency.

It's impossible to stay out of development involving Blockchain and Cryptocurrency, it something that the world is slowly embracing and the first ones who adopt tokenization and technology powered by Blockchain will surely secure a big space in future.

The world is evolving, is better to secure a deserved place in the future, better than to let it pass and start to adopt it when it late.

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Have a great day!

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Written by   892
1 year ago
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Nice article

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