Airline Refuel is the newest guy on Blockchain - by using a tab from the cockpit
VTB Bank has helped Gazpromneft-Aero to lunch their blockchain based Smart Fuel platform that would reduce the transaction time from 4-5 days to just a few minutes. And everything happens real time putting all the transaction data on blockchain and transparent to all the participants. If you do not know then earlier, the airlines were required to make advance payments or apply for bank guarantees, before refueling. THIS will help the airlines for an instant refueling payment.
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Do you think, building this would have been easy ? Have a look at the below diagram to understand all the components associated with the process. And then imagine, all of these have to be flawless - it involves huge amount of money and volume - a Boeing 747 approximately burns 4 liters per second, or 240 liters a minute totaling 14,400 liters per hour 🤓.
Here is how Gazpromneft quotes the solution :
Refuelling requests, payment and the exchange of accounting documents are all carried out via applications installed on tablets held by pilots and refuelling operators. Blockchain technology guarantees transaction data is saved in the system and available to all the participants. Data from the Smart Fuel system is synchronized with an airline’s electronic flight bag and the digital aviation fuel accounting system of fuel trucks ensuring the refuelling and information exchange process is fully automated.
And if you see the video, then you can feel the complexity - it will feel like a sci-fi movie coming to reality..Blockchain is going to disrupt the decade with such innovations.