Vnesheconombank and UEMP start the joint project on a blockchain

The chairman of Vnesheconombank Sergey Gorkov and the CEO of JSC Edinaya elektronnaya torgovaya ploshchadka Anton Yemelyanov signed in October, 2017 the Agreement on cooperation for implementation of the joint project using blockchain technology.

The project is aimed at creation of the environment of transparent electronic interaction of business and the state, and development of methods of storage and verification of information will promote process of transition to digital economy.

Vnesheconombank is going to use this technology in investment process, monitoring of projects, in purchases and also the conclusion of electronic agreements, their execution and tracking of supply chains and subcontractors.

"Application of a blockchain in corporate and public administration will allow to exclude a human factor, having provided reliability, transparency and reliability of transactions. The technology can significantly reduce timelines for delivery of services, increase operational efficiency, strengthen trust of citizens to the state and financial institutions. Such system will be useful not only to the state needs, but also to commercial enterprises. For them it will be qualitatively new scheme of relationship with partners which will improve quality of document flow, will increase the level of confidentiality of data and confidence in reliability of product suppliers", - Sergey Gorkov noted.

"Use of this technology will provide real transparency of all supply chains and will allow to bring interaction between partners to smart contract level. The developed infrastructure and technology examination will allow to scale results on other IT systems which will form the basis of digital national economy", – the CEO of JSC UEMP Anton Yemelyanov considers.

According to the parties, creation on the basis of a blockchain of the decentralized and at the same time secure system of services and services of business and the state is in the long term capable to improve considerably interaction of different departments, to increase the speed of decision making and efficiency of corporate and public administration in general.

Vnesheconombank "The digital economy" plays a key role in program implementation. It is planned that the first stage of this project will be implemented already at the end of flowing - the beginning of 2018.