The Khanty-Mansi Autonomous Okrug - Yugra, a federal subject of Russia, will launch a blockchain-enabled tourism platform, major state-owned media outlet Tass reported on June 7.
Per 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.
According to a blog post from Universa on June 7, the system will enable tracking public spending and investment to ensure transparency.
"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 - suppliers of tourist products and services, transportation, accommodation and catering providers, investors and tourists themselves.
As Cointelegraph reported at the time, Russia's Federal Agency for Tourism head, Oleg Safonov, claimed that blockchain technology has the capability to transform the country's tourism industry in November 2017.
In March last year, news broke that Dubai is launching a virtual business-to-business tourism-specific marketplace using blockchain as part of its Dubai 10x initiative "To be 10 years ahead of other world cities."
Also during the Economic Forum this week, the head of Russian state-owned oil company Rosneft stated that the company has not ruled out the possibility of paying for oil using cryptocurrencies in the future.
Russian Region Yugra to Launch Blockchain-Enabled Tourism Platform
Published on Jun 9, 2019
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.