Russia’s Pension Fund Eyes Blockchain to Prevent Labor Abuse

Russia’s FIU pension fund will use blockchain technology to integrate all of its information into a distributed registry and will prepare proposals to integrate all systems into a single platform, according to Izvestia. The fund believes it will cut costs for servicing and storing significant amounts of data. The technology will also provide more transparency to labor relations agreements and help protect workers from having their rights violated by negligent employers, which experts have cited as a pervasive problem. Data to Move to Distributed Databases The FIU currently houses employers’ data about insurance premiums and tax deductions on centralized servers. … Continue reading Russia’s Pension Fund Eyes Blockchain to Prevent Labor Abuse