Russian Railways Looks At Blockchain for Monitoring Users of Discounted Services

Russia’s national pension fund is entering into a bilateral contract with Russian Railways to utilize blockchain to monitor commuters who are eligible for discounts, Moscow based agency Rambler News Service (RNS) reported on March 1.

Anton Drozdov, chair of the Russian Federation’s Pension Fund, disclosed that the government-owned fund is set to close the contract sometime around 2019 with Russian Railways, a government-owned cargo and commuter train services company.

The latest blockchain project aims to attract accountability and transparency and to a system for tracking discounted transportation service users, curbing embezzlement, Drozdov elaborated in an interview with RNS. The chief of the national fund also disclosed that the trial is set to take place along the railway track between Moscow and Tver.

When questioned about the fund’s plans for blockchain pilots in the latest suggested system of individual pension capital, Drozdov responded that Russia’s Pension Fund cannot be engaged in the effort at the early stage.

He commented that a regulatory basis for the program is now being developed by Russia’s central bank as the effort necessitates a central supervisor.

The Moscow City Council recently tabled a bill to deploy blockchain tech to an e – voting system to avoid the likelihood of embezzlement by segregating the private data of voters from the results of the referendum.

Russian President Vladimir Putin issued another target date for adopting crypto – linked laws for the government last week. The legislation must be embraced during the 2019 spring session and imposed by July 1, 2019, according to the new order.