- Ethereum will help the government to keep an immutable as well as a transparent system.
- Ethereum is bullish above $290 but the buyers lack the momentum to push the price above $300.
The Russian government is planning to build a smart system using the world second largest crypto project by market capitalization, Ethereum. The smart system is being put together to help farmers seeking commercial plots. There are about 15,000 trading spots and the market season in Russia, Belarus, Armenia as well as Kazakhstan starts between April 20 and November 25.
It is the farmers who suggested the development of the smart system. Moreover, over 20,000 applications for the trading spots are received which makes it very strenuous to review and control them. Ethereum in this case, will help the government to keep an immutable as well as a transparent system where updates are easy to retrieve. The blockchain product manager for Moscow City Hall, Andrey Borodyonkov commented:
“Blockchain is an additional guarantee that the incoming applications remain immutable as well as makes the audit of the application history possible.”
In addition to that the government of Moscow said:
“The entire dataset is publicly viewable, transparent and available for download. In that case, submission time can be confirmed, while the application cannot be deleted or altered by someone once it is submitted.”
Ethereum price technical overview
Ethereum is bullish above $290 but the buyers lack the momentum to push the price above $300. At the moment, ETH/USD is trading sideways inside the $290 – $298 range. The bulls have pulled back from the recent slide to the support at $270. There was a huge struggle between from $285 to $290 but a breakthrough came through finally during European trading hours yesterday. Ethereum is immediately supported at $294, the 50SMA (15-minutes) currently at $293.85 and the 100SMA (15-minutes) at $291.83.
ETH/USD 15-minutes chart
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