Russian Government in Moscow to Use Ethereum Blockchain For Commerce Transparency


Moscow’s Government Plans to Use Ethereum to Promote Commerce Transparency

Moscow’s government is moving toward adopting ethereum as a way to allot trade spots during weekend farmers markets. The system will be able to record famers’ applications as they compete for a limited number of commercial plots. There are around 15,000 trading spots available and the market season spans from April 20 to November 25, with farmers coming from all around Russia, Armenia, Belarus, Kazakhstan, and Kyrgztan.

Many are pushing to get a spot – about 20,000 applicants place a bid each year. Government officials plan on utilizing ethereum to create an immutable record of applications and to provide update for those who are either approved or denied access. According to Andrew Borodyonkov, the blockchain input manager for Moscow City Hall,

“Blockchain is an additional guarantee that the incoming applications remain immutable as well as makes the audit of the application history possible.”

Moscow’s government also released a statement, saying:

“The entire data set is publicly viewable, transparent and available for download in that case, submission time can be confirmed, while the application can be deleted or altered by someone once it is submitted.”

A problem is that many farmers are dissatisfied with the current review system for applications. Andrey Belozerov, Moscow’s City Hall’s strategy and innovation advisor stated that he hopes the new system will be able to alleviate the concerns because information will be more publicly accessible. In his statement, he said:

“We believe that farmers should have a transparent system to see why their application is declined or approved. Blockchain is to make sure that the process is fully transparent and no one can alter an application. We hope that blockchain will provide full transparency for everyone.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide