Rostec will reduce funding for blockchain development in the Russian Federation. Previously, this amount amounted to 85 billion rubles.



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Rostec will reduce funding for blockchain development in the Russian Federation. Previously, this amount amounted to 85 billion rubles.

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The new Rostec blockchain roadmap provides for financial costs of 28.4 billion rubles until 2024, Kommersant writes.

9.5 billion rubles of this amount will be budget funds and 18.9 billion – off-budget. It is estimated that 650 million rubles will be used to implement the blockchain in the product labeling system, 1.17 billion rubles – for healthcare, 475 million rubles – for housing and communal services.

The companies responsible for the development of blockchain solutions have not yet been determined, however, MegaFon announced its readiness to introduce a service for accounting and distribution of utility bills.

According to Rostec, the blockchain will save the budget 500 billion rubles and bring up to 600 billion rubles in taxes. Now the roadmap is aimed at coordination with the Ministry of Communications and the Government Analytical Center.

It is noteworthy that in the previous version of the roadmap, the costs of implementing the blockchain were estimated higher – up to 85 billion rubles with an effect on the economy of 1.64 trillion rubles.

The decrease in the amount was explained in Rostec by “a change in the perception of blockchain technologies”, “self-cleaning of the market” and the company’s choice of a “less risky development” path.

In July 2019, the Russian government and large Russian companies signed agreements on the development of digital technologies, under which Rostec was appointed curator of blockchain technology, the Internet of things, quantum sensors and wireless communication technologies (5G).

Back in May, Rostec, together with Waves and the Novosibirsk Institute of Software Systems, introduced a preliminary roadmap for blockchain development. In it, the initial numbers were indicated.

In December, roadmaps for blockchain technology and quantum sensors were sent by the Russian government for revision.

Rostec will reduce funding for blockchain development in the Russian Federation. Previously, this amount amounted to 85 billion rubles.



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