Russian Tech Giant, Blockchain Platform Sign Agreement to Improve Operational Systems

Published at: Feb. 15, 2019

A subsidiary of Rostec, a Russian state-owned high-tech conglomerate, has partnered with blockchain platform Vostok, major Russian news agency Tass reports on Feb. 14.

The joint agreement was signed by Rostec subsidiary National Center for Informatization (NCI) and tech company Vostok, which provides a blockchain platform combining its own private blockchain and the Vostok system integrator.

Global blockchain platform Waves raised $120 million in December 2018 for the Vostok platform, which uses Waves technology for both commercial and government IT systems.

According to the agreement, Vostok will be responsible for the development of solutions based on blockchain for NCI to implement in joint infrastructure projects. The article underlines:

“The partnership with Vostok will give the NCI the opportunity to develop competencies in the implementation of blockchain technologies at the municipal, regional and federal levels.”

Tass states that Vostok has already entered into cooperation with major Russian bank Sberbank, transport tech firm Transmashholding, Russian development bank VEB.RF, Rostec and Kazakhstan telecom company Transtelecom. The total amount of these projects is expected to exceed 1 billion rubles (about $15 million), Tass reports.

Previously this week, Cointelegraph reported that Infotech Baltika, a Russian shipping logistics company that provides its services to 14 ports in the Russian Federation, announced the development of a blockchain-based system. Dubbed Edge.Port, the system aims to track all services in the port — including vessel parking and tug boat rentals — via a blockchain-backed system.

Earlier this month, Rosobrnadzor, the Russian Federal Service for Supervision in the Sphere of Education and Science, announced that blockchain tech would be implemented into the country’s main graduation examination, as Cointelegraph reported on Feb. 5.

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