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Gazprom to tap Blockchain for Gas Supply Agreements


The Russian Prime Minister has recently welcomed an initiative to tap blockchain in agreements over gas supplies by the country’s state-owned gas giant Gazprom. The news was reported by local news outlet Vestifinance. 

As per head of Russia’s state-owned gas giant Gazprom, Alexey Miller, “Gazprom has carried out substantive work with Russia’s state-owned bank Gazprombank, and has developed a prototype model that will enable contracts to be made automatically using blockchain technology. The platform intends to allow data sharing between all the participants of a certain contract, as well as to improve the security of data”

In initial stages, the project will be tested solely by industrial customers.Also, per the report, Medvedev has  endorsed Gazprom’s project. He claims that blockchain technology has great prospects in Russian industry. 

Medvedev also highlighted that the new initiative is of prime importance as it represents a real use-case of blockchain implementation. In early February, Gazprom’s oil subsidiary Gazprom Neft tested blockchain tech implementation in the supply chain of logistical resources.

Further, in 2018,  Gazprom Neft established a partnership with a Russian subsidiary of Raiffeisen Bank International to issue a bank guarantee via blockchain.

Russia’s Positive Stance on Blockchain Technology

In early March United Russia, the ruling party of the Russian Federation launched a blockchain-based platform for electronic voting. The federation also launched an upgraded website with the added function of e-voting. Vyacheslav Sateyev, the IT Head further mentioned that vote counting process will be implemented using distributed ledger technology. 

Furthermore, only citizens who have completed the authorization process on the portal can participate and vote. The e-voting system has been built to improvise on election transparency and eliminate intermediaries in the electoral process. 

The primaries hold deep rooted significance in eyes of United Russia for nominating party candidates, at all levels for general elections. However, the decisions made in the primaries do not serve as a necessary binding. 

As a matter of fact, the number of candidates who didn’t participate in primaries ran in the general elections for the state of Duma.

Russia Prolongs Bill on Digital Assets

Interestingly, Russia doesn’t share the same stance on digital assets. The Russian State of Duma has delayed considering the bill on digital financial assets to April 2019. 

Vyacheslav Volodin, the Chairman of the State Duma and coauthor of the draft bill, that adopted amendments will fix the difficulties in lieu with digital rights. 

Last December, Pavel Krasheninnikov, the head of the council and chairman of the State Duma committee said that bill was pushed to the first reading stage as it needed dramatic improvements.