Russia’s biggest banks have run a series of test transactions using an Ethereum-based blockchain prototype developed by Cinimex.<\/p>\n
The platform was developed under the auspices of the Bank of Russia<\/a> with the participation from Alpha Bank, Bank Otkrytie, Tinkoff Bank and QIWI<\/a>, among others. It allows for further creation of new products and services.<\/p>\n \u00e2\u20ac\u015bMasterchain ecosystem will unite the banks in blockchain research by allowing them to connect and create smart contracts within a unified environment for all financial market players,\u00e2\u20ac\u0165 <\/strong>said Alexei Arkhipov, Director for Cryptotechnologies at QIWI.<\/p><\/blockquote>\n According to Alexei Blagirev, Director of Innovations at Otkrytie Bank, the prototype is a new interaction method for banks. It allows them to receive timely information and collate customer data.<\/p>\n \u00e2\u20ac\u015bAll data is stored encrypted in the blockchain. One may access them with a special key. Thus, customer data never leave the banking contour,\u00e2\u20ac\u0165<\/strong> said Alexander Onischenko, Director for Business Development at Cinimex.<\/p><\/blockquote>\n The masterchain is expected to be developed within the Fintech Research Consortium created upon the Central Bank’s initiative. In future, the masterchain could become a part of the next generation financial infrastructure.<\/p>\n \u00e2\u20ac\u015bThe first transaction within the blockchain infrastructure confirms the potential of the masterchain technology and its applicability in inter-bank relations,\u00e2\u20ac\u0165 <\/strong>Tinkoff Bank’s VP for IT Vyacheslav Tsyganov commented.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":" Russia’s biggest banks have run a series of test transactions using an Ethereum-based blockchain prototype developed by Cinimex.<\/p>\n","protected":false},"author":1,"featured_media":2961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[22,82,27],"class_list":["post-3256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks","tag-fintech","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"141","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/3256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=3256"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/3256\/revisions"}],"predecessor-version":[{"id":3258,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/3256\/revisions\/3258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/2961"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=3256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=3256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=3256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}