Khanty-Mansi Autonomous Okrug, a federal subject of Russia located in Western Siberia, has partnered with Russian blockchain protocol Universa to help the region join the digital economy via blockchain technology.
According to a blog post from Universa, the technology partnership includes the creation of a pilot area for digital technologies and services. The pilot area will then act as a technology hub that aims to make the region a more appealing destination for tourism and direct foreign investment.
Unversa will be using its blockchain platform as an investment project management service to provide complete control over the spending of budget funds.
“Tagging the money using distributed ledger technology will protect government grants and investments against misuse,” reads the statement.
“The platform will instantly track current spending and balance of funds under the project and generate automatic reports, ensuring investment transparency, which will make the region more attractive for investors.”
A digital ecosystem for tourism
The company will also be developing a multi-language communication platform that will act as a singular digital ecosystem for the region’s tourism industry.
Everyone from tourism service providers and tourist transportation companies to hotels, investors, and even tourists themselves will contribute to an information database that will be used to spot possible bottlenecks and expansion opportunities within the industry.
“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,” reads the statement.
The technology agreement was signed on June 7th by Alexander Borodich, CEO of Universa, and Roman Genkel, General Director Ugra Development Foundation, during the St. Petersburg International Economic Forum.