KLM leverages R3 blockchain to simplify its financial processes

The startup Unchain.io announced that KLM Royal Dutch Airlines used his technology-based app blockchain of R3 in order to simplify its processes inter-company settlement.

According to a press release, KLM Finance now operates the blockchain to simplify its accounting and the settlement process of its subsidiaries securely.

The mission ofUnchain is to provide organizations with solutions to simplify data sharing and transactions with their value chain. In the case of KLM, this means a digital transformation of the settlement process with its subsidiaries. We are extremely proud to work with KLM and R3 on this innovative project, ”said Jelle van der Ploeg, CTO at unchain.io.

For several years, KLM Digital Studio, the group's innovation unit, explores how new technologies such as blockchain can improve business processes and models.

In 2018, the Franco-Dutch alliance Air France-KLM notably announced a partnership with Winding tree in order to develop solutions based on the blockchain.

After first learning in smaller projects with the Digital Studio, KLM Finance is pleased to announce this project, which we consider strategic to simplify our financial processes and set an example for future blockchain projects which are no longer "tests", but have a real commercial impact, ”Commented Dominique Vijverberg, innovation specialist at KLM Finance.

Built on the blockchain platform Corda developed by the New York firm R3, the policy applicationUnchain will "open up Corda development to even more companies," said Cathy Minter, CRO at R3.

Today, the air Transport is very interested in blockchain and many companies have joined the platform Winding tree.

This fall, the Londoner Zamna also raised $ 5 million for its blockchain platform to help companies and customs more easily verify the identity of travelers.

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