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Russian Railways exec hints that the rail network could soon become blockchain adopted

Russian Railways exec hints that the rail network could soon become blockchain adopted
  • Blockchain technology has been praised by an advisor to Russian railways and even gave a nod to the fact that it could be integrated as a part of the country's railway network.
  • The general director of the scientific research Institute of railway transport, Sergey Vinogradov said that blockchain could have a place in the national transport system. 

Blockchain technology has been praised by an advisor to Russian railways and even gave a nod to the fact that it could be integrated as a part of the country's railway network.

The general director of the scientific research Institute of railway transport, Sergey Vinogradov said that blockchain could have a place in the national transport system. The real network could even be managed using a blockchain-based smart contract according to Vinogradov, this would work alongside a protective system for managing the maintenance of container drains.

The director further said that he believes that a future Blockchain-based platform could help companies that work with logistics. Especially when it comes to cargo buyers and sellers all across the rail transportation network in Russia. He added:

"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."

Cryptocurrency and the world of digital payments seems to be on the rise within Russia. Earlier this year, the country passed a massive government bill in relation to cryptocurrencies which provides legal status to the assets. Despite this, it does not allow for digital currencies to be used as a form of payment at a merchant but you can use them for buying, selling and trading on major platforms.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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