Russian Region to Establish Tourism Platform Backed by Blockchain

By Chris Torres | June 10, 2019
Russian Region to Establish Tourism Platform Backed by Blockchain

A federal subject of Russia, the Khanty-Mansi Autonomous Okrug – Yugra, is going to establish a tourism platform backed by blockchain technology.

According to the local media outlet Tass, the CEO of blockchain startup Universa, Alexander Borodich has decided to build the platform with the support of the general director of the region’s development fund, Roman Genkel. They have signed an official agreement at the St. Petersburg International Economic Forum on 8th June.

Aiming at connecting all stakeholders in the tourism ecosystem, the platform will support multiple languages. Suppliers of tourist products and services, transportation, accommodation and catering providers, investors and tourists themselves are said to be the target beneficiaries of the platform.

“Tagging the money using distributed ledger technology will protect government grants and investments against misuse,” said Universa spokeperson. To ensure transparency, the system will enable tracking public spending and investment.

Russia has been increasingly adopting crypto-related projects. In April, Alexey Miller – head of the largest supplier of gas to Europe Gazprom – has reportedly held a meeting with Russian prime minister Dmitry Medvedev to propose the idea of applying blockchain into gas supply contracts.

Earlier, The Pension Fund of the Russian Federation is working on a deal with Russian Railways to use blockchain to keep track of transport riders eligible for fare discounts, aiming at promoting transparency and prevent fraud for those who use discounted transport services, reported by The Crypto Sight on March 6.

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