Russia's Sole Central Securities Depository Trials Blockchain Voting
The National Settlement Depository (NSD), Russia’s sole central securities depository (CSD), has announced it has tested a blockchain-based voting system. The de-facto securities system by law, the NSD provides settlement services for government bonds, municipal bonds and corporate bonds, accounting for 99% of domestic corporate bond issues. The announcement notably follows similar action in the US markets, with the DTCC revealing it is participating in trials and tests related to the emerging technology earlier this year. According to a release, the NSD used the NXT blockchain system to....
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National Settlement Depository, Russia’s central securities depository, has successfully tested an e-proxy voting system based on a distributed ledger (blockchain) technology. It has been eight years since the mysterious Satoshi Nakamoto introduced the definition of blockchain and implemented it in the original source code for his peer-to-peer digital cash system. While it is still unclear whether or not Bitcoin or other cryptocurrencies have any real long-term value, many argue that the acceptance and wider adoption of blockchain technology are fast approaching. Various industries see the....
The National Settlement Depository (NSD), Russia’s central securities depository, has developed and successfully tested an e-proxy voting system running on a distributed ledger built with the NXT distributed cryptographic platform. The project's open-source code is available on GitHub. The NSD, a member of the Moscow Exchange, is a Russian nonbanking credit organization, Russia’s central depository and a professional securities market player. The organization provides depository, banking settlement and relevant services to market players. “Over the past ten years, the global financial....
After nearly two years of experimenting with blockchain, the National Settlement Depository (NSD), Russia's central securities depository, believes it now knows what incumbents must do to reap benefits from the tech. The largest securities depository in Russia, the NSD has found that there are only a few cases where blockchain solutions can provide benefits over centralized alternatives, and that there are two criteria it uses for determining a 'good' distributed ledger use case. According to the NSD's director of innovation, Artem Duvanov, the first is that blockchains should only be used....