In 2018, global investment in the development of the technology of the blockchain has increased in 2.2 times and amounted to $2.1 billion, with 36% of all investments is in the financial sector, and the success count is not more than 10% of companies said the first Deputy Chairman of the Central Bank Olga Skorobogatova.
«The investments in projects related to the development of technologies of the distributed registries can be significantly higher, – the Vice-President of the Russian Association of cryptocurrency and blockchain (RAKIB) Denis Dosnow. – For the first quarter of 2018 world venture financing blockchain solutions approached $1.3 billion, and about $8.9 billion invested through the mechanism of the ICO in projects using this technology.»
Assessment RAKIB, only Russian investment projects on the basis of the blockchain is $1.5–2 billion However, according to the adviser of the Chairman of the Association «Financial innovation» Andrei Korkishko, it is not accurate because the software companies don’t provide all the information.
«Blockchain development is conducted jointly by several companies or by banks in the framework of consortia, reminded the analyst of «OTKRITIE Broker» Timur Nigmatullin. – Abroad consortia R3 CEV, EEA, and in Russia the work is created by the Central Bank «, the Association of FINTECH» (AFL), which includes Sberbank, alpha-Bank «FC Opening», VTB, QIWI and others. Membership in the consortium gives the right to the use and refinement of the product, these companies account for hundreds of millions of dollars of investment per year.»
The first banking products based on blockchain Russian market will see in the third quarter of 2018, is a system of digital issuance of Bank guarantees, developed by the VTB Bank, and the digitization of the letters of credit from Alfa Bank.
According to representatives of VTB, now the project is at the testing stage, the intermediate results are analyzed banks participating in the AFL, and in September it is planned to launch pilot projects based on real data.
Chief operating officer at Alfa Bank Maria Shevchenko said that the pilot launch of the project of the Bank, which should reduce the time of calculations, and to ensure the reliability and transparency of operations is scheduled for late 2018. If successful in 2019, the project will be launched in commercial operation.
«Now all the projects created and presented prototypes, and the participants of the pilot projects carried out testing and integration with banking systems, – confirmed the head of the direction for technology development of the distributed registry of the Association «FINTECH» Alexei Arkhipov. – Already carried out test transactions and transactions with real clients on one of the projects will start in July.»
According to the Bank, these projects will accelerate the implementation of some banking operations with letters of credit from 18 to 8 days, with mortgage loans from 9 days to 1 day, and with Bank guarantees – from 8 hours to 10 minutes.
Shevchenko recalled that, in fact, the exchange of information between banks in Russia are engaged in SWIFT and payment system of the Central Bank, therefore, banks often send each other paper documents received from customers.
«Mastercam will create a single, trusted environment for sharing information and documents, which will reduce costs for all participants in the financial cooperation of both banks and their customers. In this sense, technology can become a breakthrough for the financial sector,» she said.
So investment in technology of the blockchain, on the basis of which mastercan, will ultimately allow companies to save time and resources that would enable them to provide more affordable services.