On Tuesday, S7 Airlines
announced that it has managed payments totalling over $1 million in July through its blockchain platform. The system was built with Alfa Bank to settle transactions between travel agencies and S7 using distributed ledger technology (DLT).
With its decentralized platform, the airline claims that payments are faster, require less paperwork, and are more secure. S7 and Alfa Bank built the system on a private blockchain using the Ethereum protocol. It mentions it is now also using the Hyperledger Fabric framework.
Nikolai Mukhanov, S7’s Techlab Executive Director, said: “The number of operations is growing every month. Since January, the amount of payments made on the blockchain platform has grown tenfold.”
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