Gazpromneft-Aero, the aviation fuel unit of Russian oil major Gazprom (MCX:GAZP) Neft, and S7 Airlines have successfully tested and deployed a blockchain platform allowing instant payments for aircraft refueling services.
As per the official announcement, the two companies are the first in Russia to have used the distributed ledger technology (DLT).
The platform allows the airline to initiate an aviation fuel smart contract (AFSC) containing information about the refueling of a future flight, the initial fuel volume, and price. The information then goes to the respective airport and its fueling operator. After the service is rendered, the payment is released. The whole process becomes much faster and simpler as it does not involve pre-payments, bank guarantees, or any financial ...
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