Russian Official: Blockchain Will Transform the Tourism Industry

Blockchain, News | November 8, 2017 By:

The head of Russia’s Federal Agency for Tourism, Oleg Safonov, said that blockchain technology will transform the country’s tourism market in five to ten years.

Speaking at the Kazan Tourism Forum 2017, Safonov said that they are absolutely convinced in their federal agency that blockchain will seriously change the tourism market. He said blockchain could allow tourists as well as consumers “to work directly with providers (of services), removing all the intermediaries. This makes the product better in quality, less expensive, and also increases the provider’s responsibility for the product.”

Russia has been pushing to adopt cryptocurrency and blockchain technology. Last month, the Russian government announced that two consumer agencies designed to educate citizens on the intricacies of cryptocurrency are set to be created in Vladivostok. The new government agencies will be the Crypto-Advisory and Crypto-Detective agencies, pilot branches tasked to educate and guide citizens who want to work with digital assets.

Russian leader Vladimir Putin made five Presidential orders concerning cryptocurrency, including one that would require miners to register with the state. Putin also asked for guidance on how new companies and blockchain developers can demonstrate their proposals to the Bank of Russia. That task has been speeded-up for an end-of-this-year delivery.