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VEB intends to sign an agreement on use of blockchain technology

In January 2017, Vnesheconombank plans to sign an agreement of intent to use blockchain technology in one of the regions of Russia, it is possible that in this case there will be a number of participants, the head of VEB Sergei Gorkov reports.

"We have three regions that seem to be interesting for us. Kola Peninsula, there is very cheap energy, St. Petersburg – there is a nuclear power plant, or one of the central regions of Russia, also we consider sites in Russia in the central regions. The project is under development, now we're choosing," said Gorkov.

"In any case, the deal will be interesting, in January, we will sign the intention, perhaps it will include multiple participants," he said.

According to him, the company that will implement this idea will be selected on the basis of competition, and it is a small amount of investment. "A small sum. To enter the world's top ten, it is a ridiculous investment – 100-150 million dollars ... In general, in the future blockchain could become very important for the Russian state," said VEB's CEO. Application of blockchain technology, he said, is aimed at the efficiency of project implementation.

Blockchain is organization of the distributed database system. The technology allows you to seriously optimize the corporate and public administration costs, and our future lies with it, a number of experts, representatives of the banking community and the authorities mentioned before.

Earlier, on December 21, S7 Airlines airline and Alfa-Bank held the first in Russia transaction to pay for services via credit using smart contracts based on blockchain technology. A feature of the transaction is the use of two smart contracts: one was used only for opening the letter of credit, and the second – to close.The presence of two interacting smart contracts is intended to reduce the likelihood of errors in the code, thus protecting the interests of the parties to the transaction and increasing its transparency, the airline noted.

Source: coinspot

  • December 29, 2016 5:36 PM MSK