“Gazprom” and S7 Airlines uses the Blockchain for payment of aviation fuel

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“Gazpromneft-Aero” aviation unit of the Russian oil company Gazprom Neft and the carrier S7 Airlines has successfully tested joint test blockchain platform that allows you to pay for the refueling of aircraft.

Through the use of smart contracts, the airline had the opportunity to send the order to refuel, the operator of the jet fuel supplier does it, then automatically the payment is made.

According to the official statement, the two companies became the first in Russia, using a distributed registration technology (DLT) for their cooperation.

The platform allows airlines to initiate intellectual contract for aviation fuel (AFSC), containing information about future refueling in flight, including the required fuel volume and price. Then the information goes to the appropriate airport to its filling operator. After the service is provided, is payment. The whole process is much simplified because it does not provide for provisional payments to provide Bank guarantees or any financial risks for stakeholders. In addition, the immutability of the block chain allows you to securely store all the necessary information and eliminates the risk of a breach of contract.

First refueling with AFSC use one of the regular S7 flights took place in Novosibirsk’s Tolmachevo international airport, where “Gazpromneft-Aero” has the filling complex.

Implementation of block chain projects in logistics

“Development and implementation of the blockchain, such as this is an important step in the creation of digital platforms for effective management of logistics, including processing and sale of oil products by Gazprom Neft. Implementation of blockchain projects for cooperation between the major partners enables companies to reach more efficient level of technological and operational services already today”, — said Deputy General Director for logistics at Gazprom Neft Anatoly Cherner.

The representative of S7 Group, Pavel Voronin added that his company has already created a blockchain-based platform for sale of tickets and smart contracts for accreditation. Commenting on the new initiative, he explained:

“This allows you to automate the trading operations between the three stakeholders — the airline, fuel supplier and the Bank. In accordance with the rules of the procedure, immediately after the refueling helicopter operations and settlement.”

The project of “Gazpromneft” and S7 illustrates one of the many potential applications of the blockchain outside of the cryptocurrency and Finance.

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Label: S7 S7 Airlines Blockchain Gazpromneft-Aero

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