S7 Airlines Processed Over $1M Via Blockchain Payment Platform in July
S7 Airlines processed over $1 million through their blockchain payment system in July.
S7 Airlines, a member of major global aviation alliance Oneworld, processed over $1 million through its blockchain payment system for the month of July.
S7 processed nearly $4 million in payments on its blockchain platform since January 2019
According to an official press release on July 30, S7 has seen significant growth in transactions on its blockchain-powered sales network developed in partnership with Russia's largest private bank, Alfa-Bank.
Nikolai Mukhanov, executive director at S7 Techlab, said that the platform has seen not only a significant increase in number of payments, which reportedly grew tenfold since January, but also in number of other automated processes. Mukhanov stressed that the platform’s success was largely brought on by the Hyperledger Fabric platform.
According to a report by crypto media outlet ForkLog, S7’s blockchain platform has processed a total of around $3.9 million in payments since January 2019 so far.
S7’s blockchain platform connects agents directly, also complying with NDC standard
S7, Russia's largest domestic airline, is planning to deploy its first online agents later on this year, S7 group sales director Ekaterina Dmitruk said in the press release. According to Dmitruk, the blockchain platform allows agents to work with the airline directly, also complying with the New Distribution Capability standard.
In July 2017, S7’s deputy CEO Pavel Voronin claimed that the company executed the world’s first flight ticket purchase through an open API blockchain to a bank. In August 2018, S7 partnered with state-owned oil giant Gazprom to apply blockchain-based smart contracts to aircraft fuelling.