Russia has been quite keen on adopting blockchain and cryptocurrency. The most recent news alluding to this fact comes from the state of Nizhny Novgorod. The Russian state is looking forward to the use of a blockchain based software, “City N” to help in the task of public administration, as reported by ForkLog on 28 May.
Breakdown of the Report
As stated in the report, the residents of the state can now directly file their taxes on the Vostok platform making use of the application. The application would also provide for verification of the identity of the residents of the state. It would also aid in tracking expenditures paid by the residents to the state through Gosuslugi, the state’s official online portal of public services.
Gleb Nikitin, governor of Nikitin, expressed his approval over the adoption of the blockchain technology. He stated that the implementation of this technology would provide the state’s residents an active voice in participation through the action of “participatory” budgeting. It would also aid in fulfilling the requirements of transparency between the citizen and the government.
Russia’s Increasing Affinity towards Blockchain
Blockchain and cryptocurrency is a treasure mine for the Russian state. Recently, Russia’s state-owned conglomerate, Rostec, proposed a national blockchain plan spanning five years. The strategy, if implemented, would generate over 1.6 trillion rubles, which would amount to over $25.4 billion. Rostec and Vostok have also signed on an agreement for the massive implementation of blockchain technology into strengthening Russia’s digital sphere. As previously reported, the country’s Pension Fund is partnering with Russian Railways to track passengers qualified for discounted special services using blockchain technology. Russia’s railway system also saw Novotrans, one of Russia’s largest rolling stock sellers, partnering with Universa for faster and more secure operations. The partnership would help bring about the digitization of the nation’s railway infrastructure. The technology would be available to every user registered on the network and would provide them with all the information needed from maintenance of the trains to the history of its carriages.