A Russian Airline announced that it is to use the Ethereum blockchain to sell flight tickets, which is backed by country's largest private sector commercial bank.

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In a report from regional newspaper Kommersant, Russian Airline PJSC Siberia airlines, know as S7 and Alfa bank begun the project of selling airline tickets on the blockchain this Monday. According to the bank one of the key advantages of employing the technology was the process of faster payments.

Last December it was reported that S7 has executed the first of its kind service payment using ethereum blockchain small contracts through a letter of credit with Alfa-bank.

The announcement of this latest project between S7 and Alfa-Bank comes after Russia's largest airline, Aeroflot, revealed that it had published a proposal for the introduction of digital currencies and technologies related to it into its operations.

In particular, the airline is considering the possibility of using cryptocurrencies for flight ticket payments. It will examine the demands for the currency as a form of payment in addition to the risks associated to the adoption of them on a larger scale.

The completion of project is expected by 10th December, 2017.