Blockchain and Aviation: A Match Made in Tech Heaven

S7 Airlines, a prominent player in the aviation sector and a member of the Oneworld alliance, has taken significant strides in digital innovation through its blockchain payment system. In just the month of July alone, the airline processed over $1 million in transactions, demonstrating the potency of blockchain technology in streamlining financial operations.

Impressive Growth Since Launch

Since the starting gate in January 2019, S7’s blockchain platform has racked up nearly $4 million in processed payments. This achievement is no small feat, as S7’s executive director at S7 Techlab, Nikolai Mukhanov, highlighted that the number of transactions saw a tenfold increase since the beginning of the year. It appears that the digital equivalent of the “fasten your seatbelt” sign is on!

The Engine Behind the Success: Hyperledger Fabric

What’s fueling this impressive uptake? Mukhanov attributes much of the platform’s achievement to the Hyperledger Fabric framework, which enhances the automated processes integral to S7’s operations. Think of it as the software engine that allows their blockchain to truly soar.

Connecting Agents Directly

S7’s blockchain platform doesn’t just lay a runway for payments but also smooths the path for travel agents. By allowing agents to connect directly with the airline and complying with the New Distribution Capability (NDC) standard, the efficiency of operations is ramped up even further. According to S7 group sales director Ekaterina Dmitruk, this means that agents will soon be able to utilize the platform proactively, enhancing their service offerings.

Pioneering in Blockchain Applications

S7 has been a trailblazer in the aviation industry concerning blockchain adoption. Back in July 2017, the airline made headlines by executing the world’s first flight ticket purchase using an open API blockchain to interact with a bank. Fast forward to August 2018, and they were again in the limelight by collaborating with Gazprom on implementing blockchain-based smart contracts for aircraft fuel purchases.

Staying Current in a Changing World

On a more global note, while S7 is busy revolutionizing ticketing and transactions, other parts of the world, like Venezuela, are grappling with entirely different blockchain challenges – switching to Bitcoin to navigate U.S. sanctions in airports. It’s a reminder that while some are pioneering forward, others are simply trying to stay afloat.

The Future is Bright with Blockchain

As S7 Airlines gears up to deploy its first online agents this year, the landscape for air travel transactions is changing rapidly. With a solid foundation in blockchain technology, S7 is not just keeping pace but setting a standard for efficiency and innovation in the aviation sector.