unchain.io is an Amsterdam based software company that provides blockchain development services and products to enterprises and consortia around the globe.
Recently, the company has announced that it has successfully delivered a strategic finance application for KLM Royal Dutch Airlines in partnership with enterprise software firm R3. The intercompany settlement application is built on R3’s blockchain platform called Corda.
For the uninitiated, R3 is an enterprise blockchain software firm working with a global ecosystem of more than 300 participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.
Notably, KLM Finance has set out to use blockchain to handle the intercompany settlements process of KLM with its subsidiaries. To simplify the accounting process securely and efficiently, unchain.io worked in close cooperation with the KLM team, to provide the design and implementation of the settlement capability using R3’s Corda technology.
Jelle van der Ploeg, CTO at unchain.io said,
Unchain’s mission is to provide organizations with solutions to simplify sharing data and transacting with their value chain. In the case of KLM, this means digitally transforming the settlement process with its subsidiaries. We’re extremely proud to work with KLM and R3 on this innovative project and look forward to further expanding the solution, offering value to KLM and its partners.
Dominique Vijverberg, innovation specialist at KLM Finance:
After initial learnings in smaller projects with the Digital Studio, KLM Finance is happy to announce this project, which we see as strategic to simplify our financial processes and to set an example for future blockchain projects that are no longer ‘test’, but have real business impact.”
Cathy Minter, Chief Revenue Officer at R3, said:
Key to Corda’s success is the vibrant and diverse ecosystem of CorDapps. We built Corda to make picking up Corda and developing on it as simple as possible for experienced developers, and we actively support our developer community. Unchain’s pilot will open up developing on Corda to even more firms.
Main image credits: KLM Royal Dutch Airlines
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