Russia to Create an Ethereum-Based Transparent Market for Farmers
The Russian capital is looking to use Ethereum (ETH) in order to create a transparent system aimed at supporting trading activities within the farmers’ markets.
The government based in Moscow is seeking to develop an intelligent system that will be operated on the basis of the second largest cryptocurrency in the world by market cap, Ethereum. The network will be dedicated to farmers looking for commercial plots. 2,736 trading spots are available for stealing. The market season is open between April 20 and November 25, with services available to farmers based in Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.
The idea came from the huge number of farmers who are interested in trading spots. Around 20,000 applications are submitted each year, making it difficult to review and control them. By using Ethereum, the government intends to make the records immutable and transparent so that updates will be displayed in an organized and efficient manner, as reported by Andrey Borodyonkov, blockchain product manager for Moscow City Hall.
“Blockchain is an additional guarantee that the incoming applications remain immutable as well as makes the audit of the application history possible,” he commented.
Moscow’s government explained in a statement:
“The entire dataset is publicly viewable, transparent and available for download. In that case, submission time can be confirmed, while the application cannot be deleted or altered by someone once it is submitted.”
Another aspect that has driven the proposal development was farmers’ dissatisfaction with the current system. Andrey Belozerov, the strategist and innovations advisor to Moscow City Hall’s CIO, believes that the new system will reduce the number of unpleasant cases.
“We believe that farmers should have a transparent system to see why their application is declined or approved,” he explained in the press release. “Blockchain is to make sure that the process is fully transparent and no one can alter an application. We hope that blockchain will provide full transparency for everyone.”
The Moscow City Hall was looking for blockchain experts since 2016, as stated by Andrey Borodyonkov. This year, that team officially created the division called “Product Blockchain”.