Vostok Trade

Vostok Trade is the international logistic platform on the basis of the systems of the distributed register for transportation of loads developed by Vostok company.

2019: Beginning of development of the Vostok Trade platform

The Vostok company announced on September 5, 2019 the beginning of development of the international logistic Vostok Trade platform. Within development of the platform the transport and logistic consortium into which key players of the industry will enter will be created.

According to developers, Vostok Trade will allow to automate document flow, to provide verification and stability of data, will increase the level of traceability of loads and accuracy of the data about delivery conditions. Among features of the platform transparent management model, distribution of the intellectual rights between participants, clear and available price policy for users of a final product and also ability to integrate with the existing platforms are called. According to representatives of Vostok, it will provide the international expansion of Vostok Trade.

In general, as we know, cargo transportation — one of the most labor-intensive industries with the high transactional costs connected with paper document flow, separation information to systems and a lack of transparency of supply chains. Digitalization of document flow is one of the priority directions affecting efficiency of development of all industry of transportations, marked off in Vostok. System implementation of the distributed register will allow to save the global logistic industry $38 billion, at the same time potential income from implementation of technology is $500 billion, representatives of the company counted.

The Vostok company sees creation of a single platform based on technology of the distributed register as the most perspective direction for development of the transport and logistic industry, capable to lead to improvement of a position of the Russian Federation in the world ranking of efficiency of logistic infrastructure. We expect that within the created consortium ports and operators of terminals, consignors, sea, land and air carriers, transport forwarding agents, financial and insurance companies, customs authorities, customs brokers and end consumers will join an ecosystem of the Vostok Trade platform — the head of R&D-лаборатории Vostok Oksana Klimenko said.

According to the road map of "Technology of the distributed register" of the national program "Digital Economy", the transport and logistic industry is one of key for technologies of the distributed register. It is expected that the effect of their implementation in this industry will be 135 billion rubles by 2024. The total costs of development and deployment of a single industry platform according to developers of the road map can reach 120 million budget and 1.4 billion extrabudgetary funds by 2024.

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