Russian Railways and FESCO Transport Group have launched the first block train carrying goods from Viet Nam from Vladivostok to Moscow using smart contract technology, FESCO said in a statement.
The train left Commercial Port of Vladivostok on September 6 in a ceremony attended by RZD CEO and Chairman Oleg Belozyorov, FESCO President Arkady Korostelyov, and Viet Nam Consul General Nguyen Dang Hien.
Smart contract technology is based on electronic contracts and digital security mechanisms. All the operations with containers are conducted automatically and fixed in Russian Railways’ freight transportation data register. This makes it possible for users to monitor all the stages of the transportation process including application status, railcar supply and inspection, train departure and container location.
Using smart contracts on intermodal routes from the APR countries via Vladivostok will make rail delivery transparent due to the detailed online control over the entire transportation process and the digital footprint of all the operations at the station of departure, the station of destination and in between, FESCO noted.
FESCO and Russian Railways signed an agreement on cooperation in implementing smart contract services at the St. Petersburg International Economic Forum in 2021. The first pilot delivery using smart contract from Vladivostok to St. Petersburg was in June 2022.
Photo: courtesy of FESCO