👁 Rise of biometrics in Russia
Hi there,
While European and U.S. companies are experimenting with biometric technology and figuring out how to navigate an evolving regulatory space, Russian retailers and banks are actively scaling pilot projects in an effort to catch up with China when it comes to biometrics.
Last week, I wrote about how Russia’s biggest food retailer X5 and other companies are embracing biometric ambitions for Rest of World, a digital publication covering tech stories globally.
With no bank card, fingerprints or mobile phone necessary, the payments literally work with a glance.
What makes Russia different for any company introducing biometric technology is that the government is looking to help them from the start - and is itself planning for ambitious centralized biometric infrastructure.
Last year Russia’s ministry of internal affairs announced a three-year plan to create a biometric data bank that would collect information on both Russian citizens and foreigners using facial recognition parameters as well as fingerprint data.
This could put Russia firmly in China’s footsteps when it comes to biometric ambitions.
The shape of an agreement signed last month between Sberbank and Rostelecom -- and the role the Russian government will eventually play in it -- is also something to watch for.
Have questions about biometrics or other stories about innovation in Russia? I’m always interested to hear your feedback: Daria@russiantechnews.com.
~ Daria
💳 PAYMENTS
> The Russian government and Central Bank are working through the scenario of the country being excluded from the SWIFT international payments system, in response to a recommendation last week from the European Parliament in case tensions on the Russian-Ukrainian border escalated.
[Sources: RBC, Moscow Times, European Parliament]
> Russia’s national payment system Mir added ApplePay at the end of April, with at least 20 banks and government agencies also joining the platform . Customers of these banks can now make contactless payments with their iPhones or Apple Watches.
[Sources: Izvestia, Apple.com]
> Telegram has rolled out updated payment features enabling merchants to accept credit card payments directly in chats. The company, which last week issued a new $750m tranche on its convertible bond, also introduced scheduled voice chats, and is entering Zoom territory with video group chats.
[Sources: Telegram, Vedomosti]
> Xsolla, the in-game payments processing company launched by Russian founder Alexander Agapitov, is estimated to be worth $3 billion according to Goldman Sachs and Bank of America. The company, which is headquartered in the US and has offices in Russia, Ukraine and South Korea, generated a revenue of $67 million in 2020, a 75% jump from a year ago.
[Source: The Bell]
💉 COVID TECH
> Russia produced the world’s first batch of COVID-19 animal vaccines, the agricultural regulator said on Friday. This first batch will go to several regions in Russia, while a dozen other countries also expressed interest.
[Source: Reuters]
> A consortium of Russian scientists developed an AI-based analysts tool to project mortality of COVID-19 patients, based on anonymous data of over 7,000 patients. They identified five core risk factors: arterial hypertension, coronary heart disease, obesity and age.
[Source: RIA]
🚀 SPACE TECH
> Engergomash, Russia’s rocket engine manufacturer, is developing a corporate accelerator to search for innovative space tech ideas, in an industry where the private sector is playing an increasingly prominent role globally. “We’re observing that each year the level of Russian startups is improving: there are more competitive products and technologies, there is better quality and depth of analysis of market needs, client research, and improving entrepreneurial and technical competencies,” said Igor Potashny, director of the research and analytics center at Roscosmos.
[Source: Roscosmos]
> Russia’s private space sector is still in its nascent stage, but there are a handful of space tech startups emerging, including microsatellite startup Sputnix and Success Rockets, a company working to develop “ultralight” rockets as well as to deploy satellite constellations for web and IoT connectivity.
[Source: Realnoe Vremya]
> Russia is planning to go back to the Moon with its Luna 25 mission due to be launched next October. The lander will examine ice frozen below the Moon's surface as well as study the dangers of lunar dust. Meanwhile, Russian cosmonauts are in training and could be sent to the Moon as soon as 2030, according to retired cosmonaut Roman Romanenko.
[Source: Space.com, Moskovsky Komsomolets]
🌾 ENVIRONMENT
> The Russian government is looking to expand its Far East Hectare Program, launched in 2016, which was designed to inspire eastward migration a
nd reverse demographic decline by offering 220 million hectares in giveaway land. The new proposal would expand the amount of land available in the so-called Arctic zone where citizens can receive free land to build a house or start a business.
[Source: Parlamentskaya Gazeta]
> Climate change will increase the incidence of droughts and water shortages in southern Russia over the next 50 years, according to Moscow State University experts, and it will impact the quality of water in Russia.
[Source: RIA]