Together with the Russian airline S7 Airlines, the Oil company Gazprom Neft has developed a Blockchain solution for the operation of the aircraft. With the “Aviation Fuel Smart Contracts (AFSC)” to enable the company, that you can refuel aircraft faster and more efficiently. Thus, the Russian energy giant is jumping on the Blockchain-train.
Gazprom Neft, a subsidiary of the Russian oil and gas sponsor, Gazprom, in the future, the Administration of the fuel supply in part on the Blockchain. For this purpose, the group works together with the airline S7 Airlines. As Gazprom Neft in a joint press release announced that this is a Smart Contract to ensure the supply of aircraft with fuel.
The Blockchain has the Potential to become the Standard for the delivery of fuel to airlines. In doing so, you can replace the current mechanisms of advance payments and Bank guarantees. In addition, fuel deliveries will be scheduled automatically and invoiced, what is the speed and efficiency of the process increases. A first flight, the refueling was handled via the Blockchain, took place at the Tolmachevo Airport in Novosibirsk.
A new level of technological and operational efficiency
“The development and implementation of digital services such as this is Oil an important Element in the creation of a digital platform for the management of the logistics, processing and sale of Oil products through Gazprom. Through the implementation of digital transformation projects in cooperation with important partners, the company can now reach a new level of technological and operating efficiency,“
as Anatoly Cherner, Deputy CEO for Logistics, Refining and Sales at Gazprom Neft.
“As a technology leader in the industry, analyzed and implemented S7 Airlines future-oriented technologies such as the Blockchain. We were the First to use Smart-Contracts for letters of credit. After that, we developed a Blockchain platform to automate the trade with a different counterparty. In addition, we launched a Service for the mutual settlement of ticket sellers. Our next step is a Service for the automation of the billing when Refueling. This means to automate the trade between the three parties of the Bank, the airline and fuelling company–. In accordance with the procedure laid down is carried out after the completion of the refuelling process, a vote, and settlement will be made“,
added Pavel Voronin, Chief Information Officer of the S7 Group.