MOSCOW, August 22. /TASS/. Blockchain technology may be introduced in the Russian armed forces, Voentelecom’s CEO and Head of the Information Telecommunication Technologies priority technological movement Alexander Davydov said in an interview with TASS.

"If they manage to quickly introduce Russian cryptographic algorithms into the international standard of blockchain and ensure full security [of the technology - TASS], then we will see application of this technology in private and state agencies, and in the future, possibly in the Russian Defense Ministry,"Davydov said.

According to him, the technology itself is very promising.

"Perhaps in the near future we will see how it will spread on a global scale in civilian sector. But the conservatism of the military system does not allow us to introduce everything new so quickly. We should be cautious when approaching new technologies, study them in detail because they always carry not only new advantages but also new unknown risks and threats. Now it is being studied by the Federal Security Service," he said.

Blockchain is the technology of distributed databases (ledgers) based on continuously extended chain of records and resistant to forgery, review, hacking and theft of information.

According to Bloomberg, Voentelecom operates as a telecommunication holding company. The company provides communication and integration services to federal executive authorities, military administration authorities and institutions of the Minister of Defense, as well as to communications services providers, legal and physical persons in Russian Federation. The company was founded in 2009 and is based in Moscow, Russia.