Home News The son of the Russian Prosecutor General will start developing industrial blockchain...

The son of the Russian Prosecutor General will start developing industrial blockchain solutions

Igor Chaika, entrepreneur and the son of the Prosecutor General of Russia Yuri Chaika, invested 400 000 000 rubles (roughly equaling to $6 480 000) in the recently created National Engineering Corporation (NEC) which will engage in the implementation of advanced technologies in the field of industrial production. Many experts believe that the new company is highly likely to fit into the “Digital Econommy” programme.

NEC was established last month, as revealed by Igor Chaika and Alexei Troshin, the founder of one of the Russia’s biggest engineering centers “Eltech SPb” to RBK news agency. Troshin will take up the position of NEC’s CEO, while holding 20 percent of the comopany’s shares. The rest 80 percent belong to Chaika.

The investments will be used for buying software and hiring specialists. According to Troshin, the possibility of project financing from the banks cannot be ruled out as well.

Chaika specified that the company is not up for acquiring any engineering market assets.

“We are not going to purchase, but we do consolidate the best minds available at the market. The core team has already been forged,” – he told RBK.

NEC will participate in the joint projects with European, Asian and Russian research projects. The company plans to work in the field of high-tech production engineering with the use of Internet of things, blockchain and other knowledge-intensive tools and technologies. The company’s closest “strategic goal is that of applying the principles of “Industry 4.0” to pioneering industrial projects in Russia, Troshin added.

The concept of “Industry 4.0” or the Fourth Industrial Revolution presupposes the comprehensive digitalization of all physical assets with their further integration into a unified ecosystem. At the moment, there are five main dimensions of its development in Russia, whereas almost $10 000 000 000 are to be allocated for these purposes both from the state-run and private funds.

Last month, the participants of the Russian Internet Forum RIF-2018 concluded that the digital transformation of Russia is already well under way.