In addition to blockchain, the Bank of Russia said it would also be investigating identification technologies and new payment system frameworks through the association.
The working group was formed officially on the 28th December 2016 and it includes representatives from major Russian banks such as Alfa Bank, Sberbank and VTB. Moreover, the National System of Payment Cards (NSPK), which operates Russias nationwide Mir charge card, and payments processor Qiwi, have taken part to this project.
According to CoinDesk, Qiwi CEO Sergey Solonin will be the associations new chief going forwards. Among financial companies in Russia, Qiwi has emerged as a prominent proponent of the tech, the online publication continues.
Concluding, Bank of Russia intends to play a leading – and visible – role in the experimentation and deployment of blockchain within the country’s financial sector. In recent months, the Russian central bank has been undertaking a hands-on education into the tech, unveiling a system for financial messaging dubbed “Masterchain” in October 2016.
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