Blockchain Platform Vostok, Rostec Subsidiary Partner To Develop DLT Solutionsbr>
Blockchain platform Vostok has partnered with the National Center for Informatization (NCI), a subsidiary of Russian manufacturing giant Rostec, to develop blockchain solutions.
Founded by decentralized blockchain platform Waves, Vostok offers private, permissioned blockchain-based databases, distributed computing and integration services. It aims connect public administration services, banks, registries, and payment providers to form the foundation of the digital infrastructure for the certifying, registering and tracking of data.
NCI is an integrator of complex high-tech solutions for the digital economy. It creates ecosystem projects and integrated products in the interests of the development of the digital economy, and also promotes them both in the domestic and international markets.
Under the partnership, Vostok will develop blockchain solutions that NCI will implement in joint infrastructure projects. The total amount of these projects is expected to exceed 1 billion rubles ($15M USD). The partnership will reportedly give NCI an opportunity to develop competencies in the implementation of breakthrough blockchain technologies at the municipal, regional and federal levels.
“Distributed systems for collecting, storing and processing data are one of the end-to-end technologies with a huge potential that has not yet been realized,” said Konstantin Solodukhin, Director General of the NCI. “We see a request from customers to test and implement these technologies. Therefore, we chose Vostok as a supplier of distributed solutions recognized expertise in the field of blockchain systems, while created by Russian engineers.”
In September 2018, Rostec teamed with Vostok to implement the distributed ledger technology (DLT) within the framework of Russia’s project Data Economy, which aims to digitize the economy by 2024. Rostec wants to use Vostok’s blockchain platform to collect, store, and exchange data between state agencies, citizens and municipal institutions.