How to Use a Blockchain System with Profit: S7 Airlines` Case
Tomorrow we wrote about blockchain technologies in the travel industry. So, now let`s look at the great case study in numbers from the company S7 which shows how to yse a blockchain systems and get a perfect result. S7 Airlines achieved an amazing feat as of July 30th of this year. The airline has achieved almost $4 million dollars in payments through its blockchain based system. Also, $1 million of that comes from sales in July alone which bodes well for the remaining of the 2019 calendar year.
How has it gone?
S7 intends on deploying its first online agents later this year. Those online agents will be able to interface directly with the airline through this blockchain technology. It’s expected that sales will climb even further as these online agents are deployed.
Nikolai Mukhanov, executive director at S7 Techlab, stated that payments grew an order of magnitude since the beginning of January. Several other automated processes have also experienced rapid growth as well. Nikolai Mukhanov attributes these growths and success to the Hyperledger Fabric platform.
“Blockchain is very effective for optimizing interaction in branched B2B-systems where there are a large number of contractors and customers. The technology helps to connect sales and mutual settlements with agents in real time, ensures the transfer of funds to real bank accounts 24/7”— said Denis Dodon, head of innovation development center at Alfa Bank. Blockchain, as he said, helps reduce operating costs by eliminating unnecessary and duplicate processes.
S7 is a domestic Russian airline system. In July 2017, the interim CEO, Pavel Voronin, stated that they executed the flight ticket purchase through an open API blockchain to a bank marking a big step forward for both the travel and finance industries. In 2018, S7 took this technology a step further and partnered with Gazprom, a giant industry player in oil, to apply blockchain-smart contracts for aircraft refueling.
