InnoChain

2021: Blockchain Creation

November 8, 2021 it became known about the creation in Russia of a new type of blockchain. We are talking about a InnoChain system developed at Innopolis University.

A distinctive feature of the novelty was that this distributed register is controlled by participating organizations, and the addition of a new participant occurs with the consent of the rest. The development ensures the transparency of business processes, since all participants see each step of the operations, which excludes illegal changes to documents, Izvestia writes with reference to a message from Innopolis University.

A new type of blockchain has been developed in Russia, InnoChain projects for Aeroflot are being created on its basis

According to the developers, InnoChain can be used to coordinate contracts, control supply chains, plan sales volumes of goods taking into account suppliers and buyer groups in the methodological structures of loyalty programs, in swap transactions, voting and in any other information systems that require coordinated actions of several participants.

In InnoChain, smart contracts are used to manage business processes. They are developed in a special programming language, and formal verification is used for them, Ruslan Rezin, chief expert of formal verification methods at Innopolis University, explained. Experts mathematically prove the implementation of the business process without errors.

It is noted that the blockchain InnoChain by November 2021 is already used in work on projects for Aeroflot. Andrei Polozov-Yablonsky, Advisor to the General Director for Innovative Development of the airline, noted that digitalization of the aircraft refueling process based on distributed register systems is part of the innovative development strategy of our company.

We are glad that partners from Innopolis University understand the industry value and offer solutions that affect the financial result, "he added.[1]

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