The S7 Airlines and Sberbank announced the start of selling airline tickets through the S7 Airlines blockchain platform for the bank’s corporate clients. ForkLog was told this by airline representatives.
The joint project will enable ticketing agents with accounts at Sberbank to settle with the airline via smart contracts using tokens pegged to clients’ real accounts.
This approach marks the first such deployment in Russia.
“The uniqueness of the joint project between Sberbank and S7 Airlines lies in the fact that, for the first time in Russia, settlements on the blockchain platform will be conducted using tokens backed by funds on the client’s account,” said Anatoly Popov, deputy chairman of the board of Sberbank.
Sberbank will own the tokenisation platform and guarantee the availability of the required funds on the client’s settlement account.
The new service will be available from September 2020.
The blockchain platform from S7 Airlines was launched in 2017. Last year the company reported a substantial growth in ticket sales volumes using the platform.
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