Business giants in the region have set their sights on the potential of the blockchain technology already and latest addition comes from the Russian airlines company S7 which now sells flight tickets on the Ethereum blockchain!
Russia is one of the countries that haven't passed any active regulations on the digital currencies as yet but they have made public statements towards the plans of regulating them in the near-future, however, business giants in the region have set their sights on the potential of the blockchain technology already and latest addition comes from the Russian airlines company S7 which now sells flight tickets on the Ethereum blockchain!
Ethereum-based flight tickets system is a partnership project between one of the largest airlines S7 and private commercial bank, known as Alfa-Bank. Travelers can now buy flights tickets through Ethereum blockchain but the company is researching, even more, ways of implementing blockchain technology in their daily operations.
Looks like little guys had beat the Goliath this time, well at least with getting something off the ground first because the launch of this project comes shortly after countries largest airline Aeroflot made a statement towards a plan of launching similar system later this year.
S7 & Alfa-Bank had explored the potential of Ethereum blockchain earlier this year when they completed a service payment using Ethereum smart-contracts for the letter of credit from Alfa-Bank.
As of right now, there are no regulations on the blockchain currencies as yet and government officials have said that they plan on legalizing digital commodities as assets and not currency. But this is not fixed position as yet and there is a possibility that blockchain assets will be regulated as currency.
Russian president Vladimir Putin had invited Vitalik Buterin over for a dinner at his place not too long ago and supposedly one of the topics of discussion was the possibility of digitalizing Russian national currency on the Ethereum blockchain.
We are glad to see big nations actively engaged in the discussions about blockchain technology and assets while taking more of a positive stance on them. Have you heard of any other countries plans about regulating blockchain assets? Do you think that blockchain technology will eventually overtake financial industry completely and become what they call an "industries standard"? We are looking forward to your comments below!Filed under: General, Russia, Ethereum