Moscow Administration To Use Blockchain In Regulating The Weekend Market

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The period from April to November is a busy one in Moscow. About 15,000 farmers congregate in the capital to exhibit their produce. However, over 20,000 farmers form far and wide apply for the limited space yearly. To enhance transparency in allotting trading spots in the market, municipal authorities want blockchain to help.

The authorities reveal that they will use Ethereum to assist vetting applications for a spot. The blockchain platform will store all the data relating to the applications and the approvals. The platform will store unsuccessful application which might get lucky during the next round of applications. The authorities are banking on the immutability of data on the blockchain platform to help cater to all the applicants.

The data will be immutable and freely available

Speaking to CoinDesk, the government said, “Blockchain is an additional guarantee that the incoming applications remain immutable as well as makes the audit of the application history possible.” The government adds that the whole dataset will be freely accessible and that anyone can download. The platform will ensure that submitted applications are unchangeable.

According to Andrey Belozerov, strategy and innovations advisor to Moscow City Hall’s CIO, the move is what the farmers need. He is confident that farmers will witness a lot of transparency and that the number of unpleasant cases will subside.

A transparent system

In addition, Belozerov says, “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.” The technology will therefore go a long way to address farmers’ dissatisfaction with the current system.

Media reports note that the blockchain project is a culmination of a project launched in 2016. CoinDesk reports that the authorities started hiring people with knowledge in blockchain in that year. Two years later, the staff is part of the “Product Blockchain” division. The division is behind the blockchain project working in conjunction with Moscow’s government. It is the implementing arm of the municipality authority.

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