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Ministry Of Transport Of Russia To Take Part In Pilot Blockchain Project

20:30 27/02/2019
Russian Ministry Of Transport To Test IBM Blockchain

The Ministry of Transport of Russia plans to test the TradeLens blockchain platform, which is a joint product of IBM and Maersk for cargo transportation by sea, Kommersant reports.

 

The publication has a copy of the letter of Yury Tsvetkov, the chief of the Federal Agency for Maritime and River Transport, to Maxim Akimov, the Deputy PM for transport. As follows from the letter, it is planned to sign an agreement with Maersk for launching the TradeLens blockchain platform in the Big Port of Saint Petersburg.

 

The platform will be able to significantly reduce the time for registration of all documentation, which is now carried out in manual mode and unite all participants in the freight chain into a decentralized network. According to some calculations, blockchain will help reduce operating expenses by ten billion rubles (about $152 million).

 

Officially, the participation in the pilot project has not been announced yet, but Kommersant asserts it will be implemented during the third and fourth quarters of 2019 when all agreements at the highest political level will be completed. The Federal Customs Service will presumably take part in the tests of the blockchain platform.

 

The country's FSS reaffirmed the participation in the project as well since it will help to interact with global innovation systems in the future.

 

The TradeLens platform was introduced by IBM and Maersk last August. To date, over 90 enterprises engaged in the logistics of seaports work on it. As previously reported, the Authorities of Algeciras Bay Port in Spain will apply the Tradelens solution.

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