Russia’s frosty attitude towards cryptocurrency, blockchain may be thawing

In case you need even more evidence that Russia is slowly—but surely—working its way towards accepting cryptocurrency, here’s one: the country is reportedly testing a pilot program based on the blockchain technology.

The Russian government has partnered with the country’s largest bank, Sberbank, and the Federal Antimonopoly Service (FAS) for a project called “Digital Ecosystem for Exchanging Documents,” which uses blockchain—the underlying technology of popular digital currency bitcoin—for storing documents.

“The goal of the project is to study the possibilities of distributed document storage, which may increase the speed, reliability and quality of interaction during document exchange,” FAS said in a statement.

Blockchain, which makes use of cryptography to create a distributed ledger system, allows documents to be transferred anywhere with an internet connection almost instantly, while electronic signatures make them cryptographically unforgeable.