Russian state-owned gas giant Gazprom will be leveraging blockchain technology
- Russian prime minister is welcoming the use of blockchain technology with Gazprom supply agreements.
- A prototype has reportedly been created for enabling the contracts to be made automatically leveraging blockchain.
Blockchain agreements are going to be used for gas supplies from the country state-owned gas giant Gazprom, according to local press Vestifinance. This was welcomed by the Russian prime minister to use the technology.
It was reported that Alexey Miller who is the head of Gazprom, met with the Russian prime minister Dmitry Medvedev to speak upon the development of applications powered by distributed ledger technology (DLT).
Alexey Miller detailed that the company, Gazprom has already done extensive work with Russia’s state-owned bank Gazprombank. They have been developing a prototype model that will enable contracts to be made automatically using blockchain technology.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
