Airlines Reporting Corporation (ARC) has made its first significant round of venture capital financing in Blockskye, a company developing blockchain-based solutions for the travel industry; terms of the investment were not disclosed. In January, ARC announced it had completed a successful proof of concept with Blockskye regarding the viability of using blockchain technology with the ARC system to facilitate the reporting and settlement of United Airlines tickets for a corporate client. In that test, ARC’s secure system tracked ticket life klcycles from issuance through settlement and identified all transaction modifications through smart contracts. Mike Premo, ARC president and CEO, said the recent collaboration with Blockskye, a major airline and a large corporate account “makes us optimistic that there are near-term use cases for blockchain that drive strategic benefits and pull these already close relationships even closer.” Michael Share, Blockskye’s president and co-founder, said that valuable corporate customers “are increasingly demanding new ways to book and account for travel.”