Dutch blockchain firm unchain.io announced it developed a finance application for the KLM Royal Dutch Airline in partnership with R3 the founder of enterprise blockchain Corda. The solution will enable seamless intercompany settlements between KLM and its subsidiaries.
KLM is the oldest airline in the world and has several subsidiaries offering cargo and passenger services. As of 2017, the company had €10.34 billion ($11.37 billion) in revenues. KLM Digital Studio, the innovation unit of the company, explored blockchain to enhance internal processes and develop new business models across the KLM Group.
To this end, the airline worked with unchain.io to develop a blockchain-based accounting system using R3’s Corda blockchain. We requested further details, but didn’t receive them in time for publication.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
