Russian Central Bank Tests Transactions on Ethereum Blockchain Prototype ‘Masterchain’
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....
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The central bank of Russia has successfully completed a distributed ledger trial. Dubbed "Masterchain", the Bank of Russia described the system as "a technical prototype for financial messaging" that uses a distributed ledger built with participation from undisclosed market participants. The prototype, it further said, provides a means to pass financial information between parties, ensuring "prompt confirmation of data actuality". According to bank representatives, the prototype could serve as a basis for future systems, enabling the development of new....