Gazprom Neft, VTB Bank and Aeroflot agree Blockchain payments deal

Gazprom Neft, VTB Bank and Aeroflot have agreed a deal to develop a system of instant payments for aviation fuel based on blockchain technology and specialised digital tools for the industry. The agreement was signed at the St. Petersburg International Economic Forum, Russia. The companies have agreed to work together on the introduction of innovative solutions which cut the processing time for aviation fuel payments from a few days to a few seconds and substantially improve the efficiency and safety of transactions. Their agreement builds on Gazprom Neft’s launch of the world’s first blockchain platform Smart Fuel at Russian airports