The blockchain is here to bring us the future. S7 Airlines, a major aviation company that is a part of the Oneworld alliance, has recently revealed to the media that it was able to process $1 million USD in its new blockchain payment system during the month of July. This made July the best month of the platform so far.
S7 is the largest domestic airline company of Russia and it has been benefiting a lot from the new platform. S7 Airlines’ blockchain technology is powered by the Hyperledger Fabric platform, an open-source tech that is the basis of several blockchains at the moment.
Now, the goal is to deploy the first online agent of the company. This is set to be done sometime during 2019, according to Ekaterina Dmitruk, the group sales director.
The CEO of the company, Pavel Voronin, affirmed that the company was the first airline to execute the sale of a ticket using the blockchain last year and that the services got only better since then.
Since Its Start, The Platform Has Processed $4 Million In Payments
This new platform was officially launched back in January and each month is seeing more people using it. During these seven months, $4 million USD in transactions were processed using the system.
Part of the reason for the growth now is because of a partnership that was started with Alfa-Bank, a private bank from Russia. According to the executive director of the tech lab of S7 Airlines, Nikolai Mukhanov, not only the number of payments has been increased, but also how much of the process is automated today.
One of the main advantages of using the blockchain in this kind of operation is how much more efficient it gets. It considerably speeds up the process of handling the transactions, especially as no paperwork is required at all. This is very important for the B2B market as well, which is one of the most benefited by the decision.