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Cryptocurrencies

Aeroflot considers using cryptocurrencies and blockchain for payments

Thursday 13 July 2017 | 12:21 PM CET

Aeroflot, a large Russian airline company, has been investing over USD 400,000 to study the possible applications of cryptocurrencies and blockchain in its operations.

As reported by FinanceFeeds on Ewdn, the company has published a procurement notice for modelling the development of the cryptocurrency market in the Russian Federation and its influence on payments for Aeroflot’s air transportation services.

Cryptocurrency-based projects are springing up in Russia, as President Putin sees in blockchain and cryptocurrency a potential instrument for the country’s modernization. Furthermore, the central bank has officially recognized Bitcoin a “digital currency”, the online publication concluded.

The closing date for applications is July 18, 2017 and all the work on the projects should be completed by December 10, 2017.

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