Rostec to implement $2m-blockchain at government control

Rostec to implement $2m-blockchain at government control

The agreement is signed at the Fourth Eastern Economic Forum.

The Rostec state corporation has signed an agreement with Vostok blockchain company to create a project office, within the framework of which drafts under the Digital Economy of Russia program will be implemented, RBC reports.

As Rostec notes, the agreement was signed at the Fourth Eastern Economic Forum (EEF), which is taking place these days in Vladivostok.

"First of all, companies plan to implement the Vostok platform to collect, store and exchange data between government agencies, citizens and municipal institutions," the report says.

Also, it is planned to develop joint competencies for all cross-cutting technologies, which are indicated in the state program. Rostec clarifies that the collective investment will be about $2 million.

The state corporation stresses that an important issue is the development of solutions for infrastructure projects. "In particular, it is expected to create an infrastructure for a ‘smart city’ and mechanisms for big data operations," the release adds.

Another direction of cooperation between Rostec and the Vostok project will be the creation of a technological base for the implementation of the digital enterprise model within the framework of the industrial projects of the state corporation. "The concept of a digital enterprise implies the use of new technologies in the production cycle, relations with counterparties, as well as data implementation," Rostec explains.

Also, the contract stipulates that the Vostok platform will collect, process and store statistical data, as well as catalog the products produced by Russian industrial enterprises.

Vasily Brovko, the Director for Special Assignments of Rostec, tells RBC that the corporation has its solutions in the field of the blockchain, but they are entirely local and relate to encryption and related areas. Therefore, Brovko points out, Rostec is looking for a partner that could become a technological leader, and draw attention to the Russian platform Waves, the fastest public blockchain in the world.

According to him, blockchain technology is challenging and is applicable for use in a large number of industrial spheres. He notes that the use of blockchain when working with large arrays of data and exchanging data in internal information systems makes it possible to provide data with protection, which is critically essential for Rosteс.

Tags: Rostec


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