Russian first-level administrative division collaborates with blockchain developers to launch a blockchain-based travel platform.

The first-level administrative region of Russia, Khanty-Mansi Autonomous Okrug – Yugra, will launch a blockchain-supported travel platform.

According to Cointelegraph, during the St. Petersburg International Economic Forum, Roman Genkel, General Manager of the Regional Development Fund, and Alexander Borodich, CEO of the blockchain startup Universa, signed an agreement to officially launch the platform.

As per a blog post by Universa on June 7, the platform is designed to create travel routes, promote local hotels and tourist facilities, monitor the activities of travel companies, and accumulate data to help identify problem areas and boost tourism traffic. The system will be able to track public spending and budget funds to ensure transparency. The company claims:

Marking funds using distributed ledger technology will protect government funds and budgets from abuse.

It is understood that the company will also develop a platform supporting multiple languages, with the overall goal of connecting all participants in the travel ecosystem, including travel products, service providers, transportation, accommodation, and catering.

According to a report, Dubai also launched a specific marketplace for business-to-business travel last March, using blockchain technology as part of the "Dubai 10X" initiative.

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