Universa Platform, a blockchain platform based in Russia intended for corporate management and state administration, has partnered with a Russian federal subject, Khanty-Mansi Autonomous Okrug, to allow the bucolic region join the digital economy through blockchain technology, according to the statement by the firm.

This partnership will create a pilot area for digital services and technologies which aim to make a region, located in Western Siberia which is a tourism destination as well as an attractive spot for foreign direct investment.

The blockchain platform of Universa will be integrated into government operations as an “investment project management service” to control budgeting and prevent the wrong use of funds. Tracking mechanisms will generate automatic reports when investment funds are used, ensuring transparency, thereby making the region extremely safe for its investors.

A multi-language communication platform will also be developed to give a single digital ecosystem experience for the tourism industry. All industry participants which include “suppliers of tourist products and services, transportation companies delivering the tourists, accommodation and catering facilities, small and medium enterprises providing services in adjacent areas, investors, business support foundations, and finally tourists heading for their vacations in the region”, will be contributing towards a “pool of data” which will help recognise the problems as well as areas where the industry needs to expand.

According to regional authorities, nearly 500,000 tourists visited Ugra last year. The authorities hope the creation of “a centre of competence” within the tourism industry will spur interest in the region. This decision comes on the heels of President Vladimir Putin’s decree made in May last year, “On National Goals and Strategic Development Objectives of the Russian Federation for the Period of up to 2024,” which aims to “take Russia into the top five largest economies, ensure economic growth rates exceeding international rates, while at the same time maintaining macroeconomic stability, including inflation under 4 percent.”

According to its white paper record, Universa makes use of a contract execution machine and the blockchain technology to “support the token representation of everything from passports to boarding passes, bus tickets or taxi fares; they can be gift cards, vouchers, or gym membership cards.”

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