At a closed meeting of representatives of the Federal chamber of notaries (PNP) and the banks have discussed the idea of switching the personal property registry on the technology of the blockchain. The proposal would require detailed study.
According to experts, the initiative will allow to protect the data on the legal purity of the car, as well as accelerate the procedure of issuing the loans. The personal property registry on the blockchain will lead the PNP and the banks, said a source close to PPF.
«Using the blockchain transparency is achieved in online mode you can obtain the history of vehicle purchased. The technology will simplify the evaluation of the collateral, eliminates the need for certificates and additional documents. This will allow banks to adopt a decision on issuance of credit» – said the head of the Department of scoring models and sources of data of the Bank Dmitry Gerasimov.
According to the head of projects based on blockchain VTB Bank Ivan Bobrov, storing information in the registry using the technology of the blockchain will help to guarantee the permanence and security of data.
«Implementation of a distributed registry could strengthen the protection of data on the legal purity of the car that you need when buying used cars», – said Director of Department for IT development of the Bank «Opening» Mikhail Brantov.
Head of project Department at Bell Integrator Mikhail Lapin believes that the use of this technology allows to ensure data integrity, reduce data acquisition time, increase transparency of transactions, to eliminate intermediaries and the possibility of unauthorized removal of data.
«Using the technology of the blockchain will increase the level of protection of the registry against hacker attacks and make it impossible for fraudulent attempts to manipulate information «in hindsight,» – said the head of analytical management of BKF Bank Maxim Osadchy.
Chief investment strategist ICBF Dmitry Muradov stressed the importance of creating a controlled mechanism for entering data in the system when transferring personal property registry on the blockchain.
«Decentralizing systems and technologies of distributed registry does not guarantee the validity of the data, they only guarantee their stability», – he explained.
According to Brantov, the application of the blockchain is justified in that case, if the nodes of the registry will be located in the financial organizations that take cars as collateral, and police departments.
«If the only operator is the PNP, it is enough traditional methods of storing and processing information,» he said.
Lapin expressed confidence that the introduction of the blockchain will require a lot of resources: the transition to this technology will not be instantaneous and cheap. It is estimated that the transfer of movable property register on the blockchain can take 1-3 years and cost about 150-500 million.