Flights for Tokens: Sberbank completed integration with S7 Airlines Blockchalter

Sberbank and S7 Airlines completed the integration of their own blockchain-solutions that allow corporate clients to produce instant calculations with an airline through smart contracts using tokens. The new service will be available in September 2020.

Before the airpage of airline tickets, the agent used bank guarantees and advances, which required additional costs, as well as material and human resources. The use of technology blockchain allowed partners to automate the entire chain of calculations, so now the money from the agent account will be token and immediately transferred to the airline through the Smart Contract Algorithm.

In the new Sberbank system will perform the owner of the tokenization platform, as well as the guarantor of the presence of the customer in the customer’s accounting account. The process of money conversion process itself is more technical character and happens unnoticed for the user.

According to Anatoly Popova, Deputy Chairman of the Board of Sberbank, the uniqueness of the project is that for the first time in Russia, calculations on the blockchain-platform will occur with the help of tokens secured by money on the client’s account.

S7 Airlines are confident that cooperation will allow the company to expand the number of partners working through blockchain, including in other commercial industries.

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