The Pension Fund of Russia (PFR) will monitor the employment contracts of Russians with the help of blockchain technology. The proposals on the merger of all information systems of the fund into a single digital platform will be prepared by the end of the year.

      When one gets a job, the contract will be prepared in an electronic form and confirmed with a digital signature. Thus, all contracts will be recorded, and the opportunity to make amendments will be excluded. “In the future the introduction of smart contracts into labor relations will allow to refuse from their compulsory conclusion on paper and still have information about them at any time; this will be similar to the current situation with real estate rights”, as the press service of the PFR claimed.

      Consult our attorneys on employment regulations in Russia.