Moscow Turns To The Ethereum Blockchain For Commerce

Moscow's government lacks a transparent and efficient way to allocate trading spots to food producers bringing in their wares. Now, The government turns toward the Ethereum blockchain to create a system that will fairly allot trading spots to farmers.

Blockchain Farmscape

The city of Moscow plans to use Ethereum and the Ethereum blockchain as part of a new system for allocating trading spots during weekend farmer’s markets.

Moscow RussiaThe system will be used to record applications sent in by farmers, who are competing for a limited pool of commercial plots. There are around 2,736 trading spots up for grabs and the market season is from April 20 to November 25, with farmers coming from farms in Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

There is already a stampede to grab these spots, with 20,000 applicants already filing their bids. The idea for the system is to use the ethereum blockchain as a way to create an immutable record of applications, with the system being updated to reflect when one applicant is either approved or denied access, says Andrey Borodyonkov, the blockchain product manager for Moscow City Hall.

Borodyonkov also says that using blockchain would help ensure that many grievances of farmers would become a matter of the past.

He says that:

“The entire dataset is publicly viewable, transparent and available for download. In that case, submission time can be confirmed, while the audit of the application history is also possible.”

The project was pushed due to the farmer’s dissatisfaction with the currently running system, with many farmers expressing unhappiness about how applications were reviewed.

Andrey Belozerov, the strategist and innovations advisor to Moscow City Hall’s CIO, thinks that the new system will be instrumental in making the system more publicly accessible, alleviating some of the concerns about the process.

Belozerov explains in a press release that:

“We believe that farmers should have a transparent system to see why their application is declined or approved. 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.”

Moscow started hiring blockchain developers back in 2016, with the staff being placed into a new division named “Product Blockchain” in 2018.

Interested in learning more about how blockchain technology is disrupting the current systems? Check these other articles here on our cryptocurrency news site.

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