Russian Central Bank To Unveil Digital Mortgage Solution Supported by Blockchain Technology

2020-5-29 17:35

The Bank of Russia is working on a digitized mortgage solution supported by domestic Enterprise Blockchain Masterchain. The government seems to have embraced Blockchain Technology but is still hostile towards cryptocurrencies as they recently placed a ban on crypto activities in the country.

Reports have now emerged that the Russian Central Bank is well on course in developing an online Mortgage solution that is supported by blockchain technology. They are leveraging domestically produced Masterchain Blockchain.

In a May 28th online meeting, the First Deputy Chairperson of the Central Bank, Olga Skorobogatova revealed that the Central Bank was in the late stages of releasing a digitized mortgage solution on domestic Blockchain Tech. They had already conveyed copies to the Federal Registration Service and government pending approval. She reported that at least 9 banks and a depository had already onboarded the project on the Enterprise Blockchain Masterchain.

“…what we now they gave the proposal directly to the government and Rosreestr – this is to finalize the process so that the full cycle of digital mortgage operations is implemented on the Masterchain”

Notably, Masterchain launched in 2017 by Fintech Association affiliated with, boasts of being the first to receive accreditation from the financial watchdogs, Federal Security Service (FSB).

The Russian ministry in charge of the Economy has lodged a bill that will look to create a special framework under which Blockchain will be regulated. The bill, if it goes through the State Duma, will seek to enable testing of Blockchain in a special regulatory sandbox. The Blockchain projects would be aligned to 8 sectors: financial markets, government services, trade, healthcare, distance learning, transport, manufacturing to construction

Russia support for “blockchain not crypto”

The Russian government however has a very different stance with regard to crypto. They have recently imposed a crypto ban following an agreement between the Russian Central Bank and the FSB.

Just last week, Russian officials’, members of the State Duma (Russian Legislature) proposed fines amounting to 2 million Rubles ($28340 as per this writing) and up to 7 years’ imprisonment term for illegal issuance of cryptocurrencies and digital assets.

If the bill sails through it could be set to outlaw: crypto mining, crypto exchanges, trading, and extending to even fiat to crypto on-ramps. This will now see crypto firms move to other neighboring crypto-friendly jurisdictions.

origin »

Bitcoin price in Telegram @btc_price_every_hour

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.0843736 (-100%)

blockchain supported central technology russian solution bank

Источник: bitcoinexchangeguide.com

blockchain supported → Результатов: 126


Real estate investment platform Realio (RST) to launch token on Algorand

Realio, a blockchain-based issuance and peer-to-peer trading platform focused on real estate private equity, today announced a partnership with Algorand, a proof-of-stake blockchain protocol. RST tokens will be made available for purchase as an Algorand Standard Asset (ASA); designed for interoperability with other supported blockchains and platform features such as RealioX.

2020-3-7 17:48


Фото:

Klarna and Sofort Becoming Names to Know in Cryptocurrency Circles

The primary aim of Bitcoin when it was first created was to replace all fiat currencies with the peer-to-peer payment system supported by its blockchain. Since the release of the original cryptocurrency, the original use of the digital coins has become somewhat muddled amidst the interest in the ocean of cryptocurrencies as investment opportunities.

2019-12-10 19:06


Bitcoin supported payment firm Uphold expands presence in Portugal

CryptoNinjas - Bitcoin, Cryptocurrency & Blockchain Asset SourceUphold, a leading digital money platform, announced today the acquisition of Scytale, a digital agency based in Braga, Portugal. Uphold was an early believer in the technology talent to be found in the Portuguese hub around Porto, and the acquisition comes after deciding to further anchor its technology team in Portugal.

2019-7-16 23:43


The Promising Blockchain-Based Platform Sessia goes for IEO and supported by a Kakao’s Blockchain Project ‘Klaytn’

We are living in the era of bright ideas and unique solutions which become the basis for startups and projects. Some of them are unable to stick on the market and are driven off it by stronger competitors, others prove their potential, form mutually beneficial partnerships and develop into larger enterprises.

2019-6-4 08:08


Bitcoin, Ethereum, BCH and other cryptos can be used to pay bills in Australia

Cointree, a cryptocurrency exchange platform and blockchain business registered in Australia, announced a way to pay any bills in Australia using cryptocurrencies. According to a Finextra, Cointree, and Gobbill, a startup focused on household and small business bill payment automation, piloted a trial program to pay any BPAY bills with any 100+ supported coins, including Bitcoin, […] The post Bitcoin, Ethereum, BCH and other cryptos can be used to pay bills in Australia appeared first on AMBCrypto.

2019-5-30 13:02


CryptoBirds: Guiding Investors To Most Trustworthy ICOs & Blockchain Projects

CRYPTOBIRDS presents the first incentivized collaborative platform for analyzing ICO projects in a transparent way and by fostering best practices The First Security Token Project Launched in Spain in Accordance with Current Law Kicks off Its Pre-Ico until May 28 The whitelist is now available to ensure access to interested investors.

2019-5-21 11:13


Development Of ‘Blockchain City’ In Malaysia Supported By The Chinese Government

Over 835 acres off the coast of the Malaysian city, Malacca, will soon be turned into a tourist blockchain-city with extensive infrastructure. What’s peculiar about this project is that it was launched by China Wuyi and SWT International Sdn Bhd and supported by the government of China and several major corporations, including Poly and CCCC. […]

2019-4-27 19:26


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

NFT Leader Dapper Labs Partners With Google To Scale Its Operations On Flow Blockchain

Google is finally getting into the world of non-fungible tokens (NFTs) via a partnership with NFT leader, Dapper Labs. Announced on Tuesday by Forbes, search engine giant Google announced a strategic partnership with the fourth largest NFT blockchain studio, Dapper Labs, with an aim to support the development of new Web3 products and services, such […] The post NFT Leader Dapper Labs Partners With Google To Scale Its Operations On Flow Blockchain first appeared on BitcoinExchangeGuide.

Crypto Developer to Lead Twitter’s “Decentralized Standard for Social Media” Bluesky

Twitter CEO and co-founder Jack Dorsey’s “decentralized standard for social media” Bluesky has found its lead in Jay Graber, a cryptocurrency developer and a founder of a social events startup. As we reported last week, Dorsey acknowledged that Bluesky has “taken a long time,” which was first announced in 2019, as the team decided to […] The post Crypto Developer to Lead Twitter’s “Decentralized Standard for Social Media” Bluesky first appeared on BitcoinExchangeGuide.