R-chain Blockchain platform

2020

Integration with a blockchain platform of S7 Airlines

Raiffeisenbank completely automated a settlement system for the sales agents selling tickets of S7 Airlines, using technologies of the distributed registers. Now clients of Raiffeisenbank will be able instantly to carry out settlings with private airline in 24/7 Russia. Raiffeisenbank reported about it on September 2, 2020.

Historically settlings with sales agents were conducted using bank guarantees and confirmation of placements on deposits and could take up to several days. Thanks to blockchain- platforms agents can interact with airline directly, as much as possible accelerate calculations and optimize use of current assets. The transparency of process for participants significantly increases its reliability. At the time of armoring of the ticket a system defines bank in which the agent is serviced, transfers to it a request for write-off, and after confirmation on sufficient balance on the account of the agent occurs payment executions. Thus, calculations are made in real time, 24/7, but not with a delay as it was earlier. Return of tickets is also automatic completely. At the same time no additional efforts and costs on transition to this settlement scheme from agents are required. Agents confirm purchase of tickets via the same interfaces provided by airline as before, and can automatically trace the fact of execution of payment for the ticket using already existing mechanisms on integration with systems remote service Raiffeisenbank.

The blockchain platform of S7 Airlines for B2B-settlement is created based on technology of the distributed registers of Hyperledger Fabric. The project on integration of bank with a blockchain platform started at the beginning of 2020. In network of Raiffeisenbank the node of the B2B-chain S7 Airlines platform was set, and then the integration layer is developed for permanent interaction.

Platforms for calculations of B2B – one of the most justified implementations on a blockchain as the world practice shows. We are engaged in such development and are ready to be connected to the similar systems of the corporate clients and partners. – Nikita Shvetsov, the head of directorate of IT of Raiffeisenbank told.

S7 – our long-term partner, and we appreciate cooperation with private airline of Russia. We aim to increase efficiency of the client due to integration of our solutions taking into account business processes, as was reached when implementing this project. We calculate that S7 will estimate advantages of integration of service for automation of calculations of Raiffeisenbank with its blockchain platform in the nearest future, – Dmitry Sredin, the chief of the department on work with the large companies and managements of investment banking products of Raiffeisenbank added.

One of key tasks for 2020 – to expand the scale of a blockchain platform of S7 Airlines due to connection to it of different banks and implementation in the commercial industries. Now clients of Raiffeisenbank can participate in the automated transactions on the S7 TechLab platform that will allow to increase their operational efficiency. In addition to interaction with S7 Airlines, we with colleagues consider also start of other business scenarios for such avtomatization in other industries, including in foreign markets, – Nikolay Mukhanov, the CEO of S7 TechLab notes.

Integration with Proleum

On July 28, 2020 the Raiffeisenbank company reported that it completed the first stage of the project on automation of calculations for Petroleum Trading. Within the project integration of two blockchain platforms of bank and the petrotrader was carried out: PROLEUM and R-Chain. Read more here.

2018: Development of a blockchain platform

In 2018 Raiffeisenbank developed own R-Chain blockchain platform for automation of calculations and other banking products between clients of bank.

R-chain is the information platform of Raiffeisenbank based on technology of the distributed registers using which participants had an opportunity:

• issue the international bank guarantees in electronic form;
• to quickly obtain any information on the statuses of the bank guarantee (from release to a response);
• obtain information on the issued guarantees and a free remaining balance of a limit online;
• carry out preliminary coordination of conditions of guarantees with the beneficiary.

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