An advisor to Russian Railways, the country’s national rail operator, praised the increase of blockchain technology and hinted that it might be implemented as a part of the country’s rail network.
In line with Vgudok, Sergey Vinogradov, the director of the Scientific Research project Institute of Railway Transport, blockchain might serve as an area of interest within the national transport system. In fact, ] Vinogradov believes the rail network might be managed using blockchain-based smart contracts in tandem with a predictive system for managing the upkeep of container trains.
He also feels that a future blockchain-based platform could help logistics firms, buyers and sellers to get cargo spaces across Russia’s rail transportation network. Explaining further, he added:
“The blockchain solution permits you to exclude operations for transshipment and storage of products and to abandon specialized trucks, which cost two to 3 times over multi-purpose trucks. The shunting and sorting work with the rolling stock are going to be significantly reduced.”
Russia recently passed a new bill associated with cryptocurrencies like Bitcoin [BTC] titled “On Digital Financial Assets.” This bill finally provided status to crypto, though it didn’t permitted cryptocurrencies to be used as a form of payment.