Russia’s Central Bank to Test Blockchain Messaging System
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....
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The Bank of Russia has developed and tested on an Ethereum-based blockchain prototype called ‘Masterchain’ for financial messaging, to be used by banks in Russia. The Bank of Russia, the country’s central bank, has developed a technical prototype called ‘Masterchain’. The prototype is based on distributed ledger or blockchain technology for the Russian financial market, an announcement by the bank revealed yesterday. The blockchain platform prototype was developed for financial messaging between banks in the Russian financial system and was put to the test. The announcement added: The....
Recently the Russia’s National Settlement Depository (NDS), an organization that provides settlement and depository services, began testing blockchain technology as a potential solution for a corporate e-proxy voting system. The results will not shock you but the origin of praise for the system just might. NDS began looking into solutions for e-proxy voting in August of 2014. The prototype they recently tested is based on the NXT platform. The system also adheres to the ISO 20022 standard for messaging. NDS worked with the UK based DSX Technologies to develop the e-proxy voting system. The....
While condemning the Russian president Vladimir Putin’s move to lay siege across Ukraine, the EU Commission committed to undertake a series of measures to isolate Russia from the international financial system. The European Commission announced to remove a number of Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging system, aimed at hindering Russia’s capacity to carry out cross-border payments. In a joint statement released by the European Commission, leaders from France, Germany, Italy, the United Kingdom, Canada, and the United States....
Russia’s Central Bank may soon allow and regulate transactions in Bitcoin, according to a leading Moscow newspaper. In a possibly dramatic change of attitude towards cryptocurrency, the Russian Central Bank may soon allow P2P transactions in Bitcoin, as well as other operations with cryptocurrencies, according to Izvestia, one of Russia’s leading news publications. The Central Bank has historically been more open to Bitcoin than Russia’s Ministry of Finance. Next week, they will meet with financial market representatives to discuss how to approach cryptocurrency as a whole in Russia. “The....
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....