Russia Takes its Relationship with Blockchain to the Next Level, Forms its Own R3 Consortium
The Central Bank of Russia and a number of large financial institutions sign a memorandum to begin collaborative work on researching and testing of Blockchain technology. Creation of a special consortium for researching and testing Blockchain technology has long been a topic of discussions between players of country’s financial market. Concrete actions finally take place when the Central Bank of Russia and a number of large financial institutions sign a memorandum at the XXV International Financial Congress in St. Petersburg which marks a beginning of collaborative work. Russian banks....
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According to a report, Russian payment platform Qiwi will create a blockchain consortium which will see Russia’s biggest banks at its members. In a move reminiscent of the private banking blockchain consortium led by New York-based R3, Russian payment operator Qiwi is reportedly looking to create a consortium for banks in the country. Qiwi intends to develop standards for the application of distributed ledger technology among banks, according to a report from Russian publication Izvestia. The Russian startup has sent invitations to Russia’s biggest banks including BIN Bank, Alfa Bank, and....
Russian banks and financial services firms have come together to form the country’s first financial blockchain consortium, a coalition that will seek to explore and implement blockchain solutions in the banking and financial services industries. Announced at the beginning of the month, Russia’s first ever blockchain consortium will see various prominent banks and notable financial and professional services firm Accenture, come together to form a private-sector coalition. Initial whispers of the establishment of a blockchain consortium in Russia arose in early June 2016, with Russian....
Russian payments provider Qiwi has revealed it wants to launch a domestic blockchain consortium it compared to the 44-member banking consortium R3CEV. In statements today, Qiwi CTO Alexei Arkhipov expanded on his company’s work with blockchain tech, reiterating how the company has developed its own prototypes for payments processing. Originally nicknamed ‘BitRuble’, the project caused concern among local regulators, who have been moving to formally ban the use of blockchain-based digital currencies. Arkhipov, however, said that sentiment regarding the technology is now changing, and that....
Sberbank, Russia's largest bank in net assets intends to join the R3-led international blockchain consortium, according to reports. As reported by Russian news publication Kommersant, Sberbank, Russia's biggest bank with over three times the net assets over its closest competitor is keen on joining the global consortium of 30 banks and financial institutions led by New York-based R3. Speaking to be publication, Sberbank's First Deputy Chairman of the Management Board, Leve Khasis, confirmed the bank is keeping a close eye on the evolution of blockchain technology. He added the bank is....
It is impossible to stop the Bitcoin movement, that much has become evident. Excluding Bitcoin from Russia would do more harm than good in the long run. Russia has always had an unusual relationship with Bitcoin and cryptocurrency. It has been unclear how the situation will evolve for quite some time now. A new statement by the Bank of Russia hints at no further action being taken against the usage of Bitcoin. Another positive sign for Bitcoin on a global scale, although this does not mean cryptocurrency is legal in Russia all of a sudden. People have to keep in mind this statement does....