CBR is developing a blockchain system for financial reports to regulators

The Bank of Russia develops a system of transmission of financial messages between the Central banks of the countries of the Eurasian Union (EAEU) on the basis of technology of blockchain, said the first Deputy Chairman of the Central Bank Olga Skorobogatova at the meeting of members of the Association of banks of Russia with the leadership of the regulator.

«We have an agreement with the regulator of the EAEC countries – to develop a prototype system for transmitting financial messages on distributed registries. We believe that we are in the framework of the EAEU can, using new technology to build messaging and maybe then the calculations are already based on new approaches and new principles of distributed registers», – she said.

Skorobogatova said, within the site of the Association «FINTECH» discusses several variants of the prototype.

«Despite the fact that a lot is said about what a wonderful and almost perfect technology of the blockchain, actually it has a lot of questions, it does not address issues of performance, load, security and so on,» summed up Skorobogatova.

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