Russian bankers to discuss blockchain application on April 19
On April 19, Moscow will host a session dedicated to the application
of blockchain
technologies in the
banking sector within annual Blockchain&Bitcoin Conference
Russia. It will engage
representatives of Sberbank, Alfa Bank and other companies, actively implementing blockchain in
business processes.
Why Russian bankers are interested in blockchain
Early in the year, it has transpired thatSberbank has developed a prototype of currency
exchange service using blockchain.
It is noted that the system operates perfectly and now the matter depends on
the regulation issue.
Another project also draws attention: the platform for registering product supply data
according to factoring agreements. The projec twas tested by Sberbank along with M.Videocompany. The system allows to speed up goods dispatch and
making payments: phone conversations and long corresponding are not required
any more.
In late 2016,
the first deal with aletter of credit based on blockchain, technically implemented by
Alfa Bank, drew community’s attention.
Opening and accomplishment of the letter of credit were formally established as
a transaction based on Ethereum
smart contract.
The Bank for Development and Foreign Economic Affairs (Vnesheconombank) is also on its way toward
blockchain. In
March 2017, VEB sent the project onblockchain implementation based on Rosreestr (Federal Agency for State
Registration, Cadastre, and Cartography). Besides, the bank is considering the
opportunity to apply blockchain in conducting cross-border transactions and
mentioning high potential of the technology.
Issues covered by banking session
According to organizers, four speakers have already confirmed their participation in
the session, however the list will be
supplemented.
Ekaterina Frolovicheva, managing director of the technical innovations center at Sberbank, will
tell in detail about implemented projects and present the market leader’s
opinion regarding blockchain
application in the Russian banking
system.
DinaMerkulova, Trade Finance Director at Alfa Bank, will dedicate her presentation to the
above-mentioned topic: blockchain implementation in letters of credit.
Elvira Shakirova, an expert at ICC Russia,Associate Professor of the Department of
Economics of the State University "Dubna", will tell about blockchain in the trade financing.
And VladimirFedorov, the representative of Sovcombank, will present a case
study dedicated to the registration of banking records in blockchain.
Besides, conference attendees will be able to join the Pro section
dedicated toblockchain
implementation in non-financial sector and
the demo zone withcryptocurrency
industry equipment.
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