Today Gazpromneft Aero, the aviation fuel division of Gazprom Neft, announced it has tested its blockchain smart fueling system in more than 100 scheduled flights. The trial involved airline Smartavia, VT Bank and Raiffeisenbank and is now ready to ramp up into production. A spokesperson told Ledger Insights that the solution ‘can be distributed globally’.
The oil company reckons it cuts payment processing times from four or five days to 15 seconds. Refueling an aircraft is challenging because oil prices are not static and the airline may not know exactly how much fuel they need until the last minute. Using blockchain smart payments avoids the need for advanced payment or a bank guarantee.
“This revolutionary approach to aircraft refuelling is particularly important for our airline — it makes the process fast, transparent and up-to-date,” said Sergey Savostin, CEO Smartavia.
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