Blockchain Can Help Russian Rail Network Perform Better

There is a probability that Russia will have a railway that works on Blockchain technology if Sergey Vinogradov’s plans are accepted.

Sergey Vinogradov works for the Russian government as an advisor to Russian Railways, the pride of the country, when it comes to railway transportation. Sergey acknowledges that blockchain is an important aspect of development and that it can even be applied to facilitate transportation by railway.

As the general director of the Scientific Research Institute of Railway Transport, Vgudok, Sergey  Vinogradov’s proposal for the implementation of blockchain in the transportation system may be considered. He said smart contracts developed on blockchain technology when used with a system that can be used for maintaining container trains will make the sector more efficient.

He said that if the railway system plans work out, Russians that buy goods in bulk will adopt the use of trains in transporting their goods:

“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.”

In Russia, people are still talking about the bill that was passed into law recently. It was a crypto bill with the title “On Digital Financial Assets.” With the bill, handling cryptocurrency is no longer a crime in the country but then, it is still not to be used in place of money.

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