Blockchain will become part of the Russian economy.

October 15, 2019

The Ministry of Communications has presented a roadmap for the development of a “distributed registry system.” The project should be implemented by 2024 and will bring Russia 1,635 billion rubles


The Ministry of Communications has published a roadmap for the development of the “end-to-end” digital technology of the “distributed registry system.” From the document, it follows that the implementation of the blockchain will bring the state 1,635 billion rubles. This result will be achieved thanks to the fight against counterfeit products and cost savings.


“The total investment provided by the existing support tools will amount to 23.1 billion rubles ... From private investors it is expected to raise funds in the amount of 50.17 billion rubles,” the document says.


Through the introduction of the blockchain, it is planned to reduce the turnover of counterfeit medicines, ensure the safety of storage and exchange of personal medical data, and increase the availability of financial services for the poorest segments of the population. According to forecasts of the Ministry of Communications, 100% of the population will use banking services upon completion of the project







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