The new service is part of Russian Post’s digital transformation plan, and it is anticipated to minimize the amount of misdirected shipments.
The post office may invest more than $500 million on the system by 2025, according to top officials, with a working prototype expected in two years.
The Russian national postal service, known as Pochta Rossii, is embarking on the digital transformation program in order to remain competitive in the digital era.
Blockchain is at the top of the organization’s list of technologies to explore, according to Vladimir Urbansky, head of digital products at local business newspaper Vedomosti.
As early as 2023, Russian Post has proposed to launch its blockchain-based tracking system. Urbansky said the new service will be market-driven.
Urbansky went on to say that Russian Post is part of a logistical chain and that the technology will allow it to give end-to-end tracking information to other businesses.
According to the publication, blockchain technology will also help the postal service reduce the number of lost shipments.
The post office’s current method is inefficient, he noted, and blockchain may help it save time and effort in the search for lost parcels.
The Ministry of Digital Development, Communications and Mass Media is presently reviewing the postal operator’s digital transformation plan.
Minister Maksut Shadaev informed the publication that a final decision is still pending. The company’s Board of Directors will then be presented with the plan.
According to the article, Russian Post has been considering blockchain technology for some time.
Nikolai Podguzov, the company’s director-general, announced plans to adopt blockchain technologies to better regulate the company’s financial activities in October 2017.
“Every day, we deal with 9 billion rubles in transactions,” Podguzov said. “It’s likely that we may employ blockchain technology to assure the security of these transactions, and we are working on it,” he added.
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