I believe it was 100% technologically possible back then but bureaucracy killed any attempt at it that wasn't on a micro-level.

"Within this new party politics Viktor Glushkov was contacted by officials and started to work on new ideas (see also Glushkov’s personal reminiscences). His plan for a computer network all over the Soviet Union for monitoring labor, production and retailing would integrate a number of existing informational infrastructures and included more than 100 regional network nodes interconnected by wide-band channels as well as over twenty thousand local computer centers. The structure would additionally provide a distributed data bank accessible from everywhere. This idea for data compiling, storing and processing, later specified together with Nikolai Fedorenko, was crucial to the whole concept and would have meant a major shift in soviet bureaucracy. Instead of collecting raw economic data and feeding different administrative channels, Glushkov and Federenko thought of single storage in central data banks, which would then be made accessible for all different kinds of usage. But Glushkov’s plans reached even further: to reorganize the whole bureaucracy and, for example, to abolish material money.

The opposition against such proposals quickly increased. The plans were criticized from three positions. First, bureaucrats and factory managers did not feel attracted to more observation and standardized control over their daily work and general efficiency. Second, more liberal economists saw a new rise of centralization and extensive planning from above. Finally, the building of a universal computerized data network was confronted with resistance from top political level in order to preserve the administrative status quo."

"I want to emphasize one particular insight that is central for the progress of cyber-communist approaches. Technological and scientific insufficiencies were not the prime problem for building a general cybernetic system for the Soviet economy. Instead, political mechanisms of power, information exclusivity and competence skirmishes prevented a technologically bolstered, cybernetic re-coordination of the economy. The political, academic and military divisions showed a tendency for applying only parts of the large-scale innovations for their particular purpose. Computer technology, information networks and especially cybernetic modeling are by definition general ideas applicable to various problems. Military authorities, economics, politicians and scientists did all anticipate benefits for their particular needs in the Cold War. One problem in the Soviet Union was, for example, the lack of standardization and coordination for computer networks. In the US and the Western World, general communication protocols, like TCP/IP, or addressing systems, like DNS, were widely implemented over a battled period spanning into the 1980s. Without such standards for digital communication and because of incompatible hardware and software the bunch of different soviet networks were never to be connected. Each one was sheltered and veiled by intransparency and the fear of losing already gained privileges."

https://networkcultures.org/longform/2016/12/19/communication-control-communism-on-socialist-cybernetics-accelerationist-dreams-and-tiqquns-nightmares/

Sorry for the wall of text I just really like this topic and hate that our future could've been so much better had things turned out differently ;-;