{"id":1870,"date":"2017-01-17T18:57:08","date_gmt":"2017-01-17T18:57:08","guid":{"rendered":"https:\/\/blog.holytransaction.com\/?p=1870"},"modified":"2023-01-10T03:49:19","modified_gmt":"2023-01-10T01:49:19","slug":"central-bank-russia-blockchain","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2017\/01\/central-bank-russia-blockchain.html","title":{"rendered":"Central Bank of Russia works on the Blockchain"},"content":{"rendered":"

Central bank of Russia is continuing to work and study blockchain applications<\/strong>, having announced the creation of a new FinTech group focused in part on the distributed ledger.<\/p>\n

Officially formed<\/a> on 28th December 2016, the Russian group includes representatives from several important Russian banks including Alfa Bank, Sberbank and VTB.\u00a0Also, it includes payments processor Qiwi<\/strong> and the National System of Payment Cards<\/strong> (NSPK).<\/p>\n

Earlier this week, the company\u00a0said<\/a>\u00a0Qiwi<\/strong> CEO Sergey Solonin will be\u00a0the association’s new chief.<\/p>\n

In addition to the blockchain, Central Bank of Russia explained it will also investigate identification technologies and new payment system frameworks within the group.<\/p>\n

Olga Skorobogatova, or the bank’s deputy governor, explained in an official statement:<\/p>\n

\u201cThe Association\u2019s key objectives will include the development and introduction of new technological solutions to ensure the development of the Russian financial market. It will also promote digitalisation of the Russian economy.\u201d<\/em><\/p><\/blockquote>\n

This news reveals that Bank of Russia intends to play a leading role in the test and development of blockchain applications within the country and not only. Its interest in the technology is not a secret.<\/p>\n

Recenlty, the Russian central bank has been undertaking a hands-on education into\u00a0the ledger, announcing\u00a0a new system for financial messaging called Masterchain<\/a> back in October to improve its national payment system.<\/p>\n

Also, the Russian government has been exploring<\/a>\u00a0the blockchain and it announced that Bitcoin is not an illegal method of payment.<\/p>\n

Click here to read more news about Russia and Blockchain.\u00a0<\/a><\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

Central bank of Russia is continuing to work and study blockchain applications, having announced the creation of a new FinTech group focused in part on the distributed ledger. Officially formed on 28th December 2016, the Russian group includes representatives from several important Russian banks including Alfa Bank, Sberbank and VTB.\u00a0Also, it includes payments processor Qiwi […]<\/p>\n","protected":false},"author":2,"featured_media":508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,468],"tags":[747,793,1079,1218],"yoast_head":"\nCentral Bank of Russia works on the Blockchain -<\/title>\n<meta name=\"description\" content=\"The Central Bank of Russia is exploring blockchain applications and has created a FinTech group focused on the distributed ledger.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2017\/01\/central-bank-russia-blockchain.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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