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
