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Author Topic: [2016-10-17] The Russian Government is Testing Blockchain for Document Storage  (Read 147 times)
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October 17, 2016, 08:39:08 AM

An anti-trust agency within the Russian government is testing a blockchain-based document management system.

Dubbed “Digital Ecosystem”, the project is aimed at developing tools that can “increase the speed, reliability and quality of interaction during document exchange”.

The country’s Federal Antimonopoly Service (FAS) is working alongside Sberbank to develop it. Other companies, including Aeroflot, Russia’s largest airline carrier, are also involved, Sberbank said today.

In statements, FAS deputy chief Andrey Tsarikovsky said that the project points to a potential reduction in the cost of managing and exchanging documents.

He was quoted as saying:

“This decentralising approach cuts costs because data processing centres are not required and the requirements for equipment protection are lowered. It is noteworthy that Russia is one of the first countries in the world where the state and market participants are looking at these innovations as a way to simplify business operations.”
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