Report: Russia to See Its Own Banking Blockchain Consortium
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....
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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....
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....
India’s BankChain consortium, a working group of major Indian banks developing blockchain solutions completed its first project ‘Clear-Chain’, a platform to share customer data. Clear Chain is the product of a banking consortium led by government-owned State Bank of India (SBI), India’s largest bank, which launched the financial banking blockchain working group ‘Bankchain’ in February this year. Although led by a public-sector bank, the consortium also includes India’s largest banks such as HDFC, ICICI and Axis, among several others. The consortium also includes blockchain specialists and....
The leading Russian payments service provider QIWI is putting together a consortium of banks to explore blockchain technology. Russia may soon have its own consortium of banks led by the country’s leading payment services provider QIWI. It is no secret that Russia has mixed feelings about Bitcoin and other digital currencies. Call it paranoia or being extra cautious, the country has gone far enough to make exchanging bitcoin to ruble a crime. According to a recent legislation passed by the country’s finance ministry, anyone caught converting bitcoin to the country’s legal tender can face....
The Russian banking industry has announced the plans for creating a consortium of institutions to explore blockchain technology. The relation between Bitcoin and Russian authorities can be described as turbulent at best. While the Government, as well as the Central Bank of Russia, are not open to the use of Bitcoin or any other currency in their territory, they have a different outlook towards the underlying technology of bitcoin. The recent announcement by a group of Russian financial institutions to create a consortium to work on Blockchain technology is a standing proof of that. The....