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Blockchain for letter of credit settlements: experience of Alfa-Bank at Blockchain & Bitcoin Conference Russia

Blockchain for letter of credit settlements: experience of Alfa-Bank at Blockchain & Bitcoin Conference Russia

At the end of 2016, Alfa-Bank and S7 Airlines conducted the first in Russia letter of credit transaction on blockchain.

Alfa-Bank took care of the technical side, and the deal was executed as an Ethereum smart contract transaction.

Blockchain record contained the information about the customer, executive and commercial terms (sum, opening and closing dates).

On April 19, Dina Merkulova, managing director for trade finance at Alfa-Bank, will present at Blockchain & Bitcoin Conference Russia. Her presentation will focus on the realization of blockchain technology in letters of credit.

“Blockchain allows solving two most important issues of trust and speed. Both these aspects play a vital role in trade finance,” explains the speaker.

You will find more information at Blockchain & Bitcoin Conference Russia.

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