Qiwi's CEO Will Head Up Russia's Distributed Ledger Efforts
Russia's FinTech Association, established in part to encourage wider exploration of distributed ledger tech, has appointed Qiwi chief Sergey Solonin as its new CEO. Solonin will now lead the consortium effort, a role that will find him coordinating R&D efforts with the Bank of Russia, Sberbank, VTB Bank, Alfa Bank, Gazprombank, Bank Otkritie and the National System of Payment Cards (NSPK). According to a release from the group, the consortium members will explore applications including digital identity, distributed ledgers and open APIs. Solonin said in the statement: "The concept....
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Having a partner with close ties to national regulators and policymakers will be beneficial to the R3 consortium. The R3 blockchain consortium continues to welcome new members all year long. In a rather surprising turn of events, Russian payment provider QIWI joined the team. This is somewhat strange, as it appeared the company was in talks with the Russian government to develop new blockchain solutions. R3 and QiWI will elaborate on design and possible application of distributed ledgers. A partnership between Russia’s primary payment provider and the R3 blockchain consortium is an....
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....
While the number of major global banks announcing blockchain tech trials continues to escalate, Russian payments startup Qiwi remains a rarity in its home country of Russia. The payment service announced last September it had built a proprietary digital currency called the ‘BitRuble’, a project that received widespread interest due to the negative climate for the technology in Russia. There, the country’s legislative assembly has been working for over a year on a law that would outlaw some uses of bitcoin. In a new interview, however, Qiwi indicated that it is still seeking to move forward....
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....