Russia’s Federal Agency for Tourism head, Oleg Safonov, has claimed that Blockchain technology has the capability to transform the country’s tourism industry. He further stated that the sector is on the verge of transformation from new emerging technologies like Blockchain.

In his speech at the Kazan Tourism Forum 2017 in early November, Safonov said that Blockchain can be utilized to improve the quality of services provided to tourists. He claimed that by using the emerging technologies, tourists will be able to transact directly with service providers and will eliminate the need for third parties or intermediaries.

"We are absolutely convinced in our federal agency that Blockchain will seriously change the tourism market, although, in our opinion, it will happen not in two years but five to 10 years. This makes the product better in quality, less expensive and also increases the provider's responsibility for the product.”

Russian position on Blockchain and crypto

The government of Russia has shown contrasting views on Blockchain and digital currencies.

The government has adopted a cautious approach towards virtual currency trading activities across the country. However, the government has generally shown a positive view on Blockchain technology as a state-owned bank is actually eyeing Ethereum integration.

In October 2017, the government announced its plans to advance a pilot project to integrate Blockchain into its land registry system in early 2018. Based on the draft resolution circulated by the Ministry of Economic Development at the time, the use of the technology is intended to increase the accessibility of information on the country’s property registry.

"The use of Blockchain will be aimed at increasing the availability of information on the property registry, guarantees of protection of property rights, as well as the level of citizens' trust in the sphere of turnover of real estate."