THELOGICALINDIAN - Russias Central Bank is testing Blockchain technology with called accomplice banks via a new bunch but it will not absorb the previouslytouted Russian Bitcoin
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Russia’s Central Bank Tests ‘Cryptotechnology’
At the International Finance Congress June 3-4 in St. Petersburg, agent governor Olga Skorobogatova said that a new “consortium” was to be set up “for the accomplishing of this able Blockchain cryptotechnology.”
“Currently a cardinal of above banks as able-bodied as several companies accept accepted accord in the consortium,” she stated. “We’ve created a abstruse ancestor for a messaging arrangement on the Blockchain and will be testing this with bazaar participants shortly.”
Russia has appropriately far been an abrupt analyzer of Bitcoin in particular, advertence that it would advance its own centralized “equivalent” whose arising would be controlled by the bank.
Blockchain technology itself has meanwhile fared better, with Russia gluttonous to accumulate cyberbanking procedures and actualize gateways to all-embracing accounts in band with institutions throughout the world.
Skorobogatova added that the messaging arrangement would acceptable aboriginal be acclimated with ISO, SWIFT and added formats, with the abeyant for blockchain-based payments advancing “as a accessible abutting step,” bounded account antecedent Kommersant notes.
Russia R3-CEV Competition?
Participants in the bunch accept been called amid others as QIWI, the adaptable acquittal aggregation already investigating the use of cryptocurrency-like tokens, online coffer Tinkoff and the Russian arm of consultancy close Accenture. Notably, Sberbank and VTB Group, the country’s better banks, did not assurance up, the above planning to join in the R3-CEV consortium.
“Blockchain allows for abiding problems in the accounts area to be resolved, as able-bodied as alteration the bureaucracy for all sorts of relationships amid bazaar players,” QIWI CEO Sergey Solonin commented.
His comments were echoed by adolescent participants Binbank and KMB-Otkritiya, both of which were accurate not to advance a seismic about-face in practices was on the cards as yet.
“We’re currently evaluating and allotment area to go in agreement of work,” Binbank’s arch of agenda Dmitriy Kashtanov said. “One of the best able areas is registers [but also] transfers, as able-bodied as alive with acute contracts.”
KMB’s Sergey Mendov added there were “several areas in which the technology could be implemented” but that the coffer was “concentrating at aboriginal on the simplest cases.”
The Central Bank already has a “work group” attractive at Blockchain and its abeyant areas of implementation, which has been alive back February. In the meantime, the angle for able technologies such as Bitcoin from a acknowledged angle charcoal absolutely bleak.
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Images address of rbc.ru and brics-info.org
