Sirlibz
The largest bank in Russia Sberbank is in partnership with Russia’s S7 Airlines to tokenize their payments with blockchain technology. This would mean that travel agencies will receive payments through the distributed ledger technology (DLT). Travel agents owning accounts with the bank will be able to tokenize their money and transfer to S7 Airlines. This would help eliminate the need for travel agents to provide bank guarantees or Pay in advance.
“The use of a virtual unit of account allowed Sberbank to solve a number of technical problems and create a universal tokenization platform, in which the process of issuing tokens is just one of many possibilities. At the same time, the process of ‘conversion’ is rather technical in nature, can occur seamlessly and imperceptibly for the user.”
The tokenization protocol is built on the Hyperledger Fabric, an open source blockchain and related tools launched back in December 2015 by Linux Foundation and includes the likes of IBM, Intel and SAP among other contributors.
Other Projects on Hyperledger
Recently, Cardano (ADA) parent company IOHK joined forces with Hyperledger in order to contribute to it’s growing suits of blockchain projects.
Last year, SK Telecom, South Korea’s major Telecom faint launched STONledger, an enterprise blockchain platform built on the Hyperledger Fabric.
The IOTA team has announced integration of Tangle into the Hyperledger fabric blockchain network to help support permission-less features.
