Tatarstan companies have invested more than RUB1 billion in blockchain development

Distributed registry technology is being actively implemented in the republic; private companies have already releasedsolutions for construction, transport and agriculture.

The Republic of Tatarstan is actively introducingdistributed ledger technology. Private companies have invested over 1 billion rubles. in the development of blockchain solutions. The government's expenditures in this area are “practically zero”, since at this stage it is only considering the possibility of using the new technology. This was reported by the Ministry of Digital Development of Public Administration, Information Technologies and Communications of the Republic of Tatarstan, "Events" reports.

“There are a number of Kazan companies that are activelydevelop solutions based on blockchain technology. Among the key market players, one can probably mention the companies DDS Soft, Ak Bars Digital Technologies, Summus, Fix, ”the ministry said.

Its representatives named a number of keydirections of technology introduction. For example, a blockchain-based cooperative cash register was developed for the Ministry of Agriculture of the republic as part of a pilot project. It helps in the maintenance of accounting cooperative activities, targeted consumer programs and digital notaries.

Another solution developed on behalf ofMinister of Agriculture and Food - a digital blockchain system for monitoring subsidies and grants. With its help, you can quickly monitor and assess the state of the use of state support. The press service of the ministry believes that the introduction of this technology will help to establish the process of allocating funds by the state, increase the transparency of their spending and reduce the risks of fraud.

In addition, development is underway in Tatarstanblockchain solutions in two more directions. For the construction sector, this will ensure the transparency of lease agreements and the sale of real estate, as well as reduce the amount of bureaucracy. And for the transport sector, a new monitoring system is being tested that will help with the optimization of road traffic.

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