Russian official on Blockchain transforming Tourism

Head of Russia’s Federal Agency for Tourism, Oleg Safonov, has indicated that blockchain technology will transform the country's tourism market, during the Kazan Tourism Forum 2017.

According to the Russian news agency Taas, Safonov stated: “We are absolutely convinced in our federal agency that blockchain will seriously change the tourism market, although, in our opinion, it will happen not in two years but in 5–10 years."

He also added that the tourism industry is on the verge of significant changes from new emerging digital technologies, and more specifically blockchain tech. These technologies will remove the necessity of intermediaries by enabling tourists to directly work with service providers.

Safonov continued “This makes the product better in quality, less expensive and also increases the provider's responsibility for the product.”

The official’s favorable outlook on blockchain technology comes at a time whereby the largest tourism company, TIU Group, are working on the implementation of a blockchain solution for its property management system.