Pension Fund of the Russian Federation intends to use smart contracts

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Pension Fund of Russia intends to use smart contracts to more easily track information on contracts of employment. About it reported in a press-service PFR.

By the end of 2018 it is planned to develop a blockchain infrastructure that will be replacing the current information system of the Fund.

The advantages of such a system to allocate savings and security. The blockchain will reduce the costs of storage and processing of data, but will also protect people from illegal actions by employers at the time of the execution of contracts.

“The digital platform of the FIU should, on the one hand, significantly reduce the transaction costs of the Fund, and on the other to ensure the proactive development in the context of digitalization of the Russian economy”.

We will remind that earlier the assistant to the first Deputy head of administration of head and government of Chechen Republic Abaev Rashid said that his region is an excellent choice for the experiment on introduction of blockchain technology.

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