Russian Bank VEB Turns to Blockchain for E-Procurement Project

Russian Bank VEB Turns to Blockchain for E-Procurement Project

Russian government-owned development bank, Vnesheconombank (VEB), and e-procurement resource platform Roseltorg are teaming up on a new blockchain project. Using blockchain technology , the project aims to build a platform for transparent electronic transactions between the government departments and businesses. The project would also facilitate new methods for storing and verifying information as part of the move towards a digital economy, a press release states . The new tool is intended to aid the bank in various areas of its business, including investments, project monitoring, procurement, electronic contracting and supply chain. The news comes days after Russian President Vladimir […]