A Russian railway executive has talked of the possibility of adopting blockchain technology on the nation’s rail network.
Per Vgudok, Sergey Vinogradov, the Director-General of the Scientific Research Institute of Railway Transport, spoke of the virtues of blockchain technology – stating that Russian Railways, the national, state-owned rail operator, may soon seek to begin smart contract-powered business.
The institute is the main tech advisory body on railways – and is closely affiliated with Russian Railways.
Vinogradov stated that blockchain platforms could also allow logistics firms, buyers and vendors to purchase cargo spaces on Russian trains and help “build logistics chains more efficiently.”
Using smart contracts and blockchain technology, he added, would also allow Russian Railways to reduce costs by making reductions in “the turnover of platforms and containers,” as well as cutting down on supply costs for wagon management.
He added that it would also help the operator use a “dynamic pricing of transportation.”