RUSSIA — The second largest airline in Russia has reached $1 million in July sales using blockchain technology for their ticketing platform. S7 Airlines has been one of the first massive companies to bring blockchain to the mainstream and allow customers to purchase actual goods and services using their cryptocurrency. S7 first started using blockchain technology in July of 2018 and hasn’t looked back, finally reaching the $1 million monthly milestone in July of this year. This can only be seen as a massive successful implementation of blockchain technology to process payments on a large scale and provide users with payment options that they love.
Blockchain for consumer transactions
Bitcoin and other cryptocurrencies have fallen under scrutiny in the past for being perceived as not adequate enough to meet the needs of a large consumer base that wants fast and simple payments. This successful experiment with S7 airlines has disproven that theory as thousands of consumers use their blockchain payment gateway to pay for their tickets each month. S7 has been a large ally for blockchain technology and is also implementing the technology in other areas of their business. They have also used blockchain tech to automate other processes in their business and they have also used smart contracts for various business transactions.
S7’s successful use of blockchain payments to cater to a wider range of customers will surely show other large businesses that a large-scale blockchain payments system is not only feasible, but good business.