Aviation
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Russia
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Russia approves the world's first system that uses Blockchain to refuel aircraft
Nafis Al Sadnan/Unsplash
Gabriela Ramos
5/28/2021
The first system in the world that uses Blockchain to facilitate the refueling of planes left the testing phase and was approved in Russia after receiving registration from the Russian Federation.
The system was dubbed SmartFuel and is developed by Gazprom Neft, Russia's third largest oil producer.
The transaction between the fuel supplier and the airline usually takes four to five days. However, with Blockchain technology, the duration of this transaction is only 15 seconds. The system, which has been registered in the Russian Federation's Digital Development, Communications and Mass Media Software Registry, is expected to be distributed extensively.
Blockchain is a system through which it is possible to place orders for replenishment, payment and exchange of accounting documents through applications for pilots' tablets and refueling operators. The replenishment and data exchange process is automated, as the data remains saved in the system and is available to everyone involved.
More than one hundred flights were refueled through the Blockchain until the system was approved.
Partnerships for the development of the system include companies such as VTB Bank, Raiffeisenbank and Murmansk International Airport in Moscow.
Gazprom's Logistics CEO, Anatoly Chener, says that "the successful integration of blockchain technology in aviation refueling processes is a key example of our approach. Our new digital Smart Fuel system has facilitated our partners' processes and increased financial security of mutual settlements, which is extremely important in the current macroeconomic conditions. The system has a high potential for expansion across the industry ".
Check out more information at the link below.
Emanuel Alexandru/Unsplash
Hyperlinks:
https://cointelegraph.com.br/n...
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Gabriela Ramos
Gabriela is the latest addition to the editorial team of our website, having provided us with her solid background in editing, publishing and photography, and her interest and training in aviation history and historiography. His good taste and common sense and great cleverness and sagacity in the selection of themes and materials greatly enriched our vocabulary and narrative style. Gabriela brought unusual predicates and came to stay, helping to point the way of success of our portal.
   
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