Russian Rail Network Could Join the Blockchain Adoption Wave
Russia may soon have a Blockchain-powered railway if Sergey Vinogradov gets his way.
An advisor to Russian Railways, the countryâ€™s national rail operator, praised the rise of blockchain technology and hinted that it could be implemented as part of the countryâ€™s rail network.
According to Vgudok, Sergey Vinogradov, the general director of the Scientific Research Institute of Railway Transport, Blockchain may have a place in the national transport system. In fact, Vinogradov believes the rail network could be managed using Blockchain-based smart contracts in tandem with a predictive system for managing the maintenance of container trains.
He also feels that a future blockchain-based platform could help logistics firms, buyers, and sellers to purchase cargo spaces across Russiaâ€™s rail transportation network. He commented:
“The [blockchain] solution allows you to exclude operations for transshipment and storage of goods and to abandon specialized trucks, which cost two to three times more than multi-purpose trucks. The shunting and sorting work with the rolling stock will be significantly reduced.”
Russia recently passed a major bill related to cryptocurrencies like Bitcoin (BTC), titled â€œOn Digital Financial Assetsâ€�. This bill finally provided a legal status to crypto, though it did not allow for digital currencies to be used as a form of payment.
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