Russian State Nuclear Corporation to Develop Blockchain for ‘Increased Efficiency’

Published at: Oct. 1, 2018

Russian state nuclear energy corporation (Rosatom) will develop "advanced" digital technologies, such as blockchain, according to Rosatom IT department head Evgeniy Abakumov, cited by corporate outlet Strana Rosatom Monday, October 1.

As per Abakumov, Rosatom intends to focus on three areas of new technologies, namely blockchain, artificial intelligence and the Internet of Things (IoT). "We are committed to integrating 4.0 technologies on a wider scale. IoT, AI, blockchain and others are to increase the efficiency of manufacturing process," Rosatom’s IT department head said.

Abakumov also stated that Rosatom is looking to bring on new talent in the three aforementioned areas.

As Cointelegraph has reported, Russian official institutions are widely interested in crypto-related technologies. For instance, the Russian state pension fund – the country's largest social service –  revealed its plans to implement blockchain and smart contracts in labor relations this summer.

This past month, the Russian Union of Industrialists and Entrepreneurs, which included high-ranked Russian managers from Forbes billionaires list, reportedly took part in creating an alternative bill on crypto regulation in the country.

Draft cryptocurrency regulation in Russia, in the works since January 2018 and yet to be passed, is turning out to be "disappointing," according to some experts.

Tags
Adoption
Blockchain
Russia
Internet Of Things
Related Posts
Andreessen Horowitz: Bitcoin Will Usher in ‘Influencer Coins’ by 2030
Looking ahead to what we can expect by the new decade’s end, VC firm Andreessen Horowitz predicts that Bitcoin (BTC) is likely to be central to the monetization mechanisms that future online influencers will use. In its Dec. 30 vignette of a highly automated future — where food is tailored to an individual’s microbiome and lifestyle in a “roboticized kitchen,” and VR and avatars are part and parcel of everyday business workflows — Andreessen Horowitz writes that by 2030: “The influencer can reach hundreds of her fans instantaneously. In turn, the fans can get paid instantly for giving this feedback. …
Adoption / Jan. 2, 2020
S7 Airlines Processed Over $1M Via Blockchain Payment Platform in July
S7 Airlines, a member of major global aviation alliance Oneworld, processed over $1 million through its blockchain payment system for the month of July. S7 processed nearly $4 million in payments on its blockchain platform since January 2019 According to an official press release on July 30, S7 has seen significant growth in transactions on its blockchain-powered sales network developed in partnership with Russia's largest private bank, Alfa-Bank. Nikolai Mukhanov, executive director at S7 Techlab, said that the platform has seen not only a significant increase in number of payments, which reportedly grew tenfold since January, but also in number …
Adoption / July 31, 2019
How blockchain archives can change how we record history in wartime
Decentralized blockchain technology has been around for a relatively short period of time, in the grand scheme of things, but its decentralized nature has the power to keep data and information out of the hands of censors looking to create a “safe” and “faultless” version of history. Blockchain is permissionless and literally owned by no one. So, while we can’t save the Alexandria libraries of the past, we can make sure the future is well equipped with the tools necessary to preserve historical records. Here we’ll look at some of the ways nonfungible tokens (NFT) and blockchain technology have been …
Adoption / May 12, 2022
Russia's Central Bank report examines crypto's place in the financial system
The Central Bank of Russia (CBR) is looking at ways to integrate crypto assets and blockchain technology into its local financial system amid a pile-on of global financial sanctions. In a Telegram post by the CBR on Nov. 7, the central bank shared a public consultation report titled "Digital Assets in Russian Federation." It considers how the sanction-hit state may possibly open up its domestic market to foreign issuers of digital assets — particularly those from “friendly countries.” Other areas of focus in the report are digital asset regulation, retail investor protections, digital property rights related to smart contracts and …
Adoption / Nov. 8, 2022
Russian bank issues first on-chain bank guarantee in Chinese yuan
Moscow Credit Bank has issued a blockchain-based bank guarantee denominated in Chinese currency, claiming the product is the first in the country. The bank guarantee exceeds 100 million Chinese yuan — or nearly $144,600 USD at time of publication. According to a statement, the transaction was performed through the Masterchain blockchain platform, andthe Russian national blockchain network created to transfer digital assets between its participants. As one of the advantages of performing the transaction on-chain, the financial institution mentioned that "the beneficiary does not need to wait for the paper version and make a separate request to the bank to …
Adoption / March 2, 2023