The smart contract have been developed by Sberbank’s Blockchain laboratory. Then it was ported into NSD’s Collateral Management System operating in NSD’s blockchain securities network. To make a deal, Sberbank and REGION sent instructions to their blockchain nodes, smart contract executed an order in distributed environment, then NSD’s Collateral Management System has settled the transaction including all the steps required by Russian law.
Market participants receive additional flexibility while using blockchain in repo - it enables a new options in proceeding of transactions like transparent workflow, additional level of trust, according to the official press release. The smart contract covers all the terms and conditions disclosed within the deal, including all parameters to make the deal fair and effective for parties, allowing peer-to-peer movements of funds in nearest future.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now