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Russia’s main post office plans to use a blockchain to track packages.

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The Russian Post plans to use a blockchain
source: www.shutterstock.com/Denis.Vostrikov

The Russian Post (Pochta Rossii) plans to implement a package tracking system that will run on blockchain technology.

The introduction of the new system is part of the company’s digitization strategy and is expected to reduce the number of lost packages.

The new system saves time and energy

In an effort to develop its services and improve the efficiency of its logistics, “Pochta Rossii” is considering various options, including the implementation of blockchain technology. That’s what the company’s representative said. The first trial versions are expected to come in the coming years.

Russia’s post plans to introduce its blockchaine-based tracking system as early as 2023. Vladimir Urbansky, director of digital development, explained that the post office is part of an important logistics chain, stressing that the new system will make it possible to provide other companies with information on end-to-end encryption.

The blockchain-based project aims to significantly reduce and prevent the number of lost packages, which happens quite often in Russia. The new platform can replace the existing tracking mechanism and help save time and effort in locating lost items. This also means that fewer people will be involved in the process.

The post office plans to invest a lot of money

The strategy for the digital transformation of Russian Post, including a plan to launch a blockchain, is currently on the table of the Ministry of Digital Development, Communications and Mass Media. The final decision still needs to be approved. When this happens, the investments will also have to be approved. These should be worth 38,2 billion rubles (about 450 million euros). This money should be invested by the end of 2025.

Russian Post has been following blockchain technology for a long time. In October 2017, CEO Nikolai Podguzov announced plans for the implementation of the blockchain, which described the improvement controls financial transactions of the company.

“We successfully process about 9 billion rubles a day. To ensure the security of these transactions in the future, it is quite possible that we will use a blockchain that we are already starting to work on, ”said the CEO. Podguzov stressed that this could improve the quality of postal services.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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