Yesterday Airlines Reporting Corp (ARC)
announced that United Airlines has completed a proof of concept (PoC) for the reporting and settlement of airline ticket sales. ARC is one of the main US payment and settlement service providers, connecting airlines with travel agencies. It settles more than $86 billion in transactions between airlines and travel agencies per year.
The PoC involved an end-to-end test using ARC’s private blockchain to track the transaction life cycle of a ticket sale from issuance to settlement, using smart contracts for transaction modifications.
“In the case of direct or indirect ticket sales, we believe blockchain has the potential to provide a secure, distributed and immutable transaction record that will improve upon business processes that exist today,” said Dickie Oliver, ARC’s VP and CIO.
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