Russia’s Central Bank Establishes Blockchain Working Group
While Russian authorities and regulators take a notoriously hardline stance against Bitcoin, the country’s central bank has announced the establishment of a ‘working group’ that will seek to study distributed ledger or blockchain technology, the same underlying technology that powers Bitcoin. In a confirmed nod toward showing favorability toward blockchain technology and new financial technologies (Fintech), The Bank of Russia (Russia’s central bank) has revealed the creation of a working group to evaluate the applications of blockchain technology. The Bank of Russia made the revelation in....
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A report has revealed that Russia’s Central Bank is considering a blockchain, albeit not the Bitcoin blockchain, to be used among banks in Russia to store all transactions on a shared distributed ledger. In a nod toward embracing blockchain technology, the Bank of Russia, the country’s central bank recently revealed the creation of a blockchain ‘working group’. The primary function of the working group is to evaluate and assess the potential real-world applications of the technology that underpins Bitcoin. Now, a report in prominent Russian publication Izvestia has cited sources close to....
Olga Skorobogatov, deputy chairman of the Bank of Russia (Russia’s central bank) has, in a blockchain conference, spoken about the possible development and creation of a national digital currency in the Russian Federation. Speaking at the “Blockchain and Open Platforms” conference in Russia, Deputy Chairman of the Bank of Russia Olga Skorobogatov has suggested that a national digital currency is likely to be developed in the future. She cited the increasing relevance of distributed ledger or blockchain technology, an innovation that will come to being used in Russia’s financial markets as....
Russia’s Central Bank is testing Blockchain technology with selected partner banks via a new consortium – but it will not involve the previously-touted “Russian Bitcoin.” Russia’s Central Bank Tests ‘Cryptotechnology’. At the International Finance Congress June 3-4 in St. Petersburg, deputy governor Olga Skorobogatova said that a new “consortium” was to....
Despite the perceived hostility towards Bitcoin in Russia, the country’s central bank has just announced that it has officially established a new “work group” to study the digital currency’s underlying blockchain technology and its potential application in financial markets. In a press release issued by the Bank of Russia on February 28, the country’s....
Russia’s central bank is continuing to grow its blockchain footprint, having announced the creation of a new FinTech association focused in part on studying the technology. Officially formed on 28th December, the group includes representatives from major Russian banks including Alfa Bank, Sberbank and VTB, among others. Payments processor Qiwi and the National System of Payment Cards (NSPK), which operates Russia's nationwide Mir charge card, are also on board. Qiwi CEO Sergey Solonin will be the association's new chief going forwards, the firm said earlier this week. Among financial....