An advisor to the Russian Railways Corporation, the country’s national railway operator, praised the emergence of blockchain technology and suggested that it could be implemented within the country’s railway network.
According to Sergei Vinogradov Vodok, Director General of the Scientific Research Institute of Railway Transport, blockchain may take place in the national transport system. In fact, Vinogradov believes that the rail network can be managed through blockchain-based smart contracts in line with a forecasting system for managing container train service.
He also believes that a future blockchain-based platform could help logistics companies, buyers and sellers acquire cargo spaces on the Russian railway network. He commented:
“The [Blockchain] solution allows you to eliminate the forwarding, warehousing and shipping of special trucks that cost two to three times the price of multipurpose vehicles. The work on rolling and sorting of railway cars will be significantly reduced. ”
Russia recently passed a major bill related to cryptocurrencies such as bitcoins (BTC), called “On Digital Financial Assets.” This law finally gave cryptocurrencies legal status, although it did not allow digital currencies to be used as a payment method.