Moscow Exchange and large banks have created a Russian blockchain operator to develop solutions on the blockchain – Bits Media

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Мосбиржа и крупные банки создали российского блокчейн-оператора для разработки решений на блокчейне - Bits Media

Moscow Exchange and the largest member banks of the FinTech Association (AFT) created a joint company to develop IT solutions and technologies using distributed ledgers.

According to the press release
Moscow Exchange, the organization co-founded Company LLC "Distributed Register Systems" together with AFT, VTB, Gazprombank, PSB and the national payment cards system. Each co -founder owns one sixth share of the company, which will develop "innovative products and services, and also reduce costs for all market participants ".

As part of the investment in the capital of the new company, the Association Finteh will transfer the right to the Masterchain Platform and the created services on the blockchain. According to the chairman of the board of the Moscow Exchange Yuri Denisov, Masterchain has a set of qualities, which will help the exchange create services for their participants and outside the financial market. He noted:

“We calculate, that the competencies of the founders and the project teams will create a foundation for the disclosure of all the advantages of the distributed registry technology ”.

As noted by the General Director of the Association Fintech Tatyana Zharkova, AFT has been promoting the development of a distributed register on its site for several years. The new company was created for the further development of this area and the development of more than the number of services on the blockchain for the Russian market.

In the fall 2019 Masterchin has become
The first certified FSB platform, based on Russian cryptography standards. According to the Moscow Exchange, The AFT Platform Services created by the AFT participants demonstrated their demand and will become the basis for further development of decisions based on the distributed registry system company. AFT participants will also be able to create projects using a distributed registry technology for the development of new business models and services.

Recall, that last December VTB released
digital bank guarantee on the master. Besides, in has 2020 year, the Central Bank of Russia said, that it is preparing to launch a digital mortgage using the state certified Masterchain platform.