Bitcoin, Crypto currency, Blockchain

Ethereum: the Russian Central Bank is considering the payment system on the Ethereum Blockchain

485fa15326332e885dd98bfab060fd6f - Ethereum: the Russian Central Bank is considering the payment system on the Ethereum Blockchain

The Russian Central Bank is already working for some time on a project that a payment network to develop, which is based on the Blockchain. A few days ago, a proposal that provides for a on the Ethereum-a Blockchain-based payment network.

Olga Skorobogatova, Deputy Central Bank Governor of Russia has informed in a Statement that it is for the Eurasian economic Union (EAEU), a payment system could be based on the Ethereum block Chain. The platform should bear the name of master chain and is already in development, according to an article in the state media company, Tass reported from the 03.04.2018:

We are currently discussing the possibility of creating new technologies for transmitting messages and payments across the EAEU as a supranational infrastructure. It would enable us to use blockchains distributed ledger technologies within the EAEU’s space, settle payments and transmit financial information, sidestepping the current payment system.

The Eurasian economic area comprises the countries of Russia, Armenia, Kazakhstan, Kyrgyzstan, and Belarus. The technology, first in Russia and then expanded to other countries introduced.

The master chain platform developed by the Russian Central Bank and other banks, as well as the Russian Fintech Association. The first prototype was launched in the year 2016.

Last year was discussed, whether a digital currency may not be appropriate for Russia, but for all the countries of the BRICS and the EEU space fit for purpose. Skorobogatova leads to this point:

The participants of different economic events, where I usually take part … all come to the conclusion [that the issuance] of a virtual currency is not needed much by one country. First of all, it makes sense to discuss the cryptocurrency on the level of several countries, such as BRICS and the EEU. It makes sense to set one equivalent for all payments.

For the time being, these versions are very vague. Also, there are no official confirmations. However, the statements indicate that the Russian Central Bank is a own crypto-currency works on the market.

As we previously reported, Jesse Lund (Head of the Blockchain in the case of IBM) on Reddit that a Central Bank on the Basis of Stellar (due to data protection, he may give no further instructions) could be very timely a own crypto-currency on the market.

Whether it will actually soon be a national crypto-currency, which comes in a number of countries or throughout the world, but it remains to be seen, and so far only speculation.

Disclaimer: — trading in crypto-currencies carries a large financial risk, and can be up to a total loss of the invested capital. Coin-hero.de does not constitute investment advice and recommendation within the meaning of the securities trading act (WpHG). The website content is intended solely for the Information and entertainment of the reader. The statements made here represent only our own opinion and not a recommendation to buy. Please do your own research, before you invest in crypto-currencies. We do not accept any liability for any kind of damage. Please also read our disclaimer in the imprint. —

Leave a Comment