The Government of Kaliningrad region is collaborating with Vnesheconombank (VEB) on a blockchain pilot project in the field of social payments.

The government and VEB have inked an agreement on cooperation in a number of areas. This includes implementation of modern IT solutions in the Kaliningrad region, including blockchain technology in social payments, as well as projects to introduce e-services to improve the efficiency of public and corporate governance.

"We are confident that Vnesheconombank's competence in the area of [blockchain] technology will enable us in the region to improve the quality of management decisions," said Kaliningrad Region Governor Anton Alikhanov.

"The Kaliningrad region is one of the most active subjects of the Russian Federation in terms of implementing advanced technologies that support the development of Russia's digital economy," said Vnesheconombank Chairman Sergei Gorkov.

VEB is actively involved in the blockchain space. It established the blockchain competence centre last year, which focuses on exploring innovative technologies, developing platforms for their use in government organisations, and on training specialists. In January, Blockchain Commune became a resident of Crypto Valley, a leading center for blockchain technology development.

[Note: Some sections of the article have been translated from Russian language.]