The Russian company Vostok, the creator of the eponymous closed blockchain platform, is working on the creation of the international logistics system Vostok Trade. A new system based on blockchain technologies will have to increase the efficiency of cargo transportation. This information was provided by a company representative for magazine CNews.
The platform will be developed by a consortium of key participants in the logistics market. According to the developers, Vostok Trade will increase automation in the workflow, improve the verification process, improve the tracking system of goods and the reliability of data on delivery conditions.
Obviously, in addition to the above goals, the development of its own blockchain platform in the field of logistics is designed to reduce the dependence of the local Russian market on foreign systems.
Vostok sees the creation of a single platform based on distributed registry technology as the most promising direction for the development of the transport and logistics industry, which can lead to an improvement in the position of the Russian Federation in the global ranking of the effectiveness of logistics infrastructure, said Oksana Klimenko, head of the Vostok R&D laboratory.
In its work, the Vostok blockchain platform uses the PoS protocol (proof of stake “proof of ownership”) and the Waves-NG consensus algorithm, which helps to increase the network bandwidth, its stability and the speed of information processing.
Note that the implementation of blockchain technologies is being carried out as part of the national program “Digital Economy”, in which the transport and logistics industry is considered one of the priorities.