A federal subject of Russia, The Khanty-Mansi Autonomous Okrug, Yugra, will launch a blockchain-enabled tourism platform according to Tass.
According to the report, during the St. Petersburg International Economic Forum this week, the general director of the region’s development fund, Roman Genkel, signed an agreement with Alexander Borodich, the CEO of blockchain startup Universa, to launch the platform.
From a blog post from Universa on June 7th, it can be deduced that the system will enable tracking public spending and investment to ensure transparency. The company claims:
“Tagging the money using distributed ledger technology will protect government grants and investments against misuse.”
The firm will also reportedly develop the platform to support multiple languages, with the overall goal of connecting all participants in the tourism ecosystem.
Russia’s Federal Agency for Tourism head, Oleg Safonov, has claimed that blockchain technology has the capability to transform the country’s tourism industry in November 2017.