After months of intense cooperation and development, Dutch software services provider unchain.io has successfully delivered a strategic finance application for KLM Royal Dutch Airlines utilising R3 Corda technology.

Unchain worked with the KLM Digital Studio — a 200-strong innovation lab meant to explore how new technologies like blockchain can enhance internal processes and potentially add new  business models across KLM.

As a result of this exploration,  and the hard work of the team at Unchain — KLM Finance has set out to  use blockchain to handle the intercompany settlements process of KLM with its subsidiaries. The objective of Unchain was to help simplify the  accounting process in a secure and efficient manner and they worked in  close co-operation with the KLM team to provide the design and implementation of the settlement capability using R3's Corda technology.

"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." -by Dominique Vijverberg, innovation specialist at KLM Finance

​Potential next steps in KLM's journey to consortium thinking are connecting more subsidiaries to this distributed ledger-based ecosystem.

"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." - by Jelle van der Ploeg, CTO at unchain.io

​The intercompany settlement application is built on R3's blockchain platform called Corda.

"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." - by Cathy Minter, Chief Revenue Officer at R3

Unchain.io helps organisations with understanding and exploring blockchain/Distributed Ledger Technology

(DLT) as well as the design, development and deployment of  blockchain/DLT based PoCs, pilots and production applications. Their  multi-disciplinary team has been involved in designing, building and  implementing 25+ blockchain PoCs/pilots/production applications for  organisations in a wide range of different industries based on a  variation of blockchain/DLT technologies.

Air France-KLM is  the leading group in terms of international traffic on departure from  Europe. It offers its customers access to a network covering 314  destinations in 116 countries thanks to Air France, KLM Royal Dutch  Airlines and Transavia. With a fleet of 548 aircraft in operation and  101.4 million passengers carried in 2018, Air France-KLM operates up to  2,300 daily flights, mainly from its hubs at Paris-Charles de Gaulle and  Amsterdam-Schiphol. Air France-KLM is a member of the SkyTeam alliance  which has 19 member airlines, offering customers access to a global  network of over 14,500 daily flights to more than 1,150 destinations in  more than 175 countries.

Originally published at Blockchain News