Blockchain Technology to Digitalize Russian Post Service

Russian post service i.e. Pochta Rossii is going to utilize blockchain technology for digitalizing national post service which will strengthen the delivery and shipment tracking system. Pochta Rossii is of the view that usage of the technology will enormously reduce the lost shipment cases.

No doubt that blockchain technology is by far the best technology in the world. Even its founders had not thought that it could be used for multiple purposes other than its generic purpose i.e. serving cryptocurrencies. However, it turned out that everyone was wrong. Blockchain does not only provide multiple use cases but instead the usage can be for millions purposes. While the technology is there, the world is gradually inventing blockchain’s use cases on regular basis. It is said that the future world will solely rely on blockchain technology.

But now Russia is the one that wants to capitalize from the technology by digitalizing its national post i.e. Pochta Rossii. Currently, the Russian national post is exploring several options and one of the options is the integration of blockchain within the system.

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According to an executive of Pochta Rossii, they want to fully integrate blockchain before the year 2023. Currently, the national post’s tracking system is not in accordance with international standards. In fact, it is so worse that there are hundreds of shipment missing cases reported on daily basis. Resultantly, the efficiency and capability of Pochta Rossii is doubted by most of the Russian and they don’t rely on it. Instead, they use private delivery services for sending or receiving their posts/deliveries.

However, with the integration of blockchain, Pochta Rossii would be able to go a further step ahead. It will not become an internationally accepted post by standards but also the world’s advanced post service. So far there is no postage service in the world that relies on blockchain technology. The sole aim of utilizing blockchain technology by Pochta Rossii is to strengthen the tracking system. On the other hand, the cases of lost deliveries will be reduced down considerably. Some of the experts, who have studied the project, have said that a blockchain-based system will save a lot of time.

At presently, the project is pending approval which will ultimately be approved by the Russian Digital Development, Communications & Mass Media Ministry. The Minister concerned has also said that he will soon be making his decision on the project.

Once the Ministry’s approval is sought, then, as a next step, the project will be reviewed by BoD of Pochta Rossii. It is expected that once all the approvals are obtained, then the project will require a funding of US$ 525 Million.

It was further reported that the Director-General of Pochta Rossii wanted to integrate blockchain for a very long time. He had presented the proposal previously also in the year 2017.