December 5, 2023

Ministry of Finance of the Russian Federation proposed to allocate 349 million rubles for the development of blockchain

The Ministry of Finance of the Russian Federation presented the draft federal budget for 2020-2022. According to the document, for the development of technologyblockchain will allocate a total of 349 million rubles.

The draft budget aims to developsolutions and pilot projects to create «state information resources using distributed registry technology, introducing methods and technologies for processing and storing information».

In 2020, 199 million rubles will be allocated for technology development, in 2021 — 150 million

To provide subsidies to budgetary and non-profit organizations within the framework of the national program «Digital Economy» over three years they will allocate 389.9 million rubles.

Recall that in total about 280 billion rubles are planned to be allocated to support the development of digital technologies in the Russian Federation.

According to preliminary estimates, the introduction of blockchain in government systems may require up to 85 billion rubles.