One of the largest Russian airline S7 had spent refueling the aircraft using applications based on the blockchain for the purpose of tracking data and transmission of documents related to the process of ensuring aircraft fuel.
In an official statement published on the website on 27 August, the company said that the test application was carried out in cooperation with the supplier “Gazprom Neft-Aero” and alpha Bank. For the first time the app tried out at the airport Tolmachevo during filling of the vessel, the next flight Novosibirsk — Krasnoyarsk.
As told by the company S7, the commander of the crew of the aircraft via the app sends the request to the appropriate amount of fuel. At the same time at the expense of the airline reserved the corresponding amount, and the Bank gives confirmation. Then begins the filling process. When the process is complete, the reserved funds are written off, and all three parties receive the accounting documents in a distributed network.
The purpose is to increase the speed of transactions, excluding advance payment and Bank guarantee. Because the technology removes the need to make some actions manually, the operation time is shortened to one minute.
“This is an automated trading operation between the three parties: Bank, airline and tanker… Technology allows you to increase the transparency of mutual settlements to abandon the number of manual operations and accelerate processes,” commented Deputy General Director on information technologies of the S7 Group Pavel Voronin.
S7 is not the first time streamlines business processes using the technology of the distributed registry. At the end of 2016 the company with the participation of Alfa-Bank made the first in the country the transaction of letter of credit with the use of smart contracts. And in July last year launched a service for selling tickets on the platform Ethereum. Blockchain allows you to automate transactions between multiple parties at once, so through the platform is easy to carry out settlements with the agents involved in the sale of tickets.