Russia's Central Securities Depository Tests Blockchain Assets Exchange
Russia's central securities depository (CSD) is working with a tech startup to test the exchange and transfer of blockchain assets. The project is part of a broader fintech initiative conducted in partnership between the Russian National Settlement Depository (NSD) and the National Research University's Higher School of Economics. A total of 10 startups took part. NSD is working with a startup called iCoinSoft, which according to its website designs white label exchange software for cryptocurrencies. NSD said today that it was experimenting with "the circulation of blockchain....
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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....
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....
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....
Russia's NSD has partnered with iCoinSoft Exchange Platform to develop boxed blockchain solutions for creation and launch crypto assets. The cryptocurrency ecosystem in Russia has probably grown accustomed to working amidst uncertainties surrounding digital currency regulations. Various government agencies have a different take on Bitcoin and other digital currencies, but the implementation of blockchain technology is being looked upon in a favorable light by all the agencies involved. Starting with the creation of a consortium of banking and financial institutions for standardization of....