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Russia's Yugra partners with Universa Blockchain to launch future-oriented tourism platform

Mon, 10 Jun 2019, 08:46 am UTC

Universa Blockchain and the Khanty-Mansi Autonomous Okrug - Yugra, a federal subject of Russia, have collaborated to launch a blockchain-based, future-oriented tourism platform.

As per the press release, Universa Blockchain, a blockchain protocol for business and apps, will allow tracking public spending and investment, as well as generating automatic reports, to ensure transparency.

Using the platform, the money will reportedly be tagged using a distributed ledger technology, making sure that the government funds will not be mishandled. The move aims to lure more investors in the region.

In addition, the startup will also develop a platform that supports multiple languages, with an ultimate aim to connect different field players, including suppliers, transportation firms, accommodation and catering companies, small and medium enterprises, investors, and tourists themselves, into one tourism ecosystem.

The platform is aimed at designing and promoting tourist routes, hospitality and tourism facility in the region, monitoring the activities of tourist companies and accumulating a “pool of data” that will help identify problem spots and ways to expand tourist flows,” the announcement stated.

Meanwhile, Russia’s third-largest food retail network Dixy has tapped another Russian blockchain startup Factorin to incorporate blockchain technology to its corporate finance system. The Ethereum-based platform will enable Dixy’s suppliers to receive payments within one business day instead of the usual 2 weeks.

Russia’s Nornickel, the world’s biggest palladium producer, has teamed up with IBM and Moscow Institute of Physics and Technology (MIPT) to build a Competence Center to conduct an educational training program on blockchain technology.

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