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Blockchain payments have been on the rise for a while and S7 Airlines just posted its July report, noting how it processed over $1 million of these payments.
In a press release, it was noted how the airline was developing a blockchain platform in collaboration with Alfa-Bank. S7 Airlines said that the volume of payments with its agents via the blockchain platform blew past the $1 million mark last month.
Group Sales Director at S7, Ekaterina Dmitruk pointed to the huge advantages of this kind of technology for the major achievement.
“Thanks to this new technology, now it’s easier for our agents to work directly with the airline, which allowed us to expand our own S7 Airlines sales network. Within this year, we are planning to deploy first online agents, whose work would comply with the NDC standard, on the platform,” she said.
Nikolai Mukhanov, the Executive Director over at the S7 Techlab, also weighed in. He said:
“The number of operations is growing every month. Since January, the amount of payments made on the blockchain platform has grown tenfold. In addition to the number of transactions, the number of other processes that we try to automate on our platform is also growing. This was largely made possible by the Hyperledger Fabric platform, which not only provides stable network performance, but also allows us to safely and privately store data of different members.”
S7 Airlines and Alfa-Bank collaborated back in 2016 when they executed a letter of credit transaction using blockchain technology. Last August, S7 Airlines became the first Russian airline to refuel an aircraft using smart contracts based on the blockchain technology with the operator Gazpromneft-Aero and Alfa-Bank.
Since January 2019, the overall payment volume that the airline processed via its blockchain system has topped $3.9 million, Forklog reports. The fact that July saw a quarter of that full amount could be indicative of the rising trend in the use of blockchain for paying for flights.
