The Central Bank of Russia is considering adding mortgage records to Masterchain - supportedThe government has a draft distributed ledger, which is currently being tested at leading banks.
Speaking during an online meeting with ParliamentThe country, the first deputy head of the Bank of Russia Olga Skorobogatova, said that the previously launched process on a decentralized depository system for digital mortgage bonds was successful.
“We invited the government to finalize the project byto the extent that Masterchain can conduct all kinds of transactions necessary for issuing a digital mortgage, ”said Skorobogatova. “This platform works, and without further doubt, we can complete this development.”
The official also said that six Russianbanks are testing Masterchain for the exchange of digital letters of credit, and some are ready to join. Skorobogatova did not indicate the names of banks that participate in this work, or organizations that could participate in a pilot digital mortgage.
Masterchain was launched in 2017 by the Fintech Association, which is controlled by the Bank of Russia.
More projects
Skorobogatova reported that the regulatory frameworkThe Bank of Russia for applications of distributed ledger has applications from 50 projects that are under development, some of which have already been completed.
“We tested two digital asset projects,one for hybrid tokens representing digital rights and goods, and another for tokenizing services, ”she said. “Both projects received a green light from us, and companies are now waiting for the adoption of a normative act so that they can begin work in Russia.”
Again, the projects were not named. However, one of them may be the project on Norilsk Nickel, the mining and metallurgical giant of Russia.
Meanwhile, the Duma is preparing to hear a bill on the first regulation of digital assets in Russia. The project passed the first hearing (of the three required) in May and remained untouched until last week.
Read also:Russians withdrew a year's worth of cash in a month due to fears of coronavirus
New Package Offers Release Procedureregistered digital securities on the blockchain in Russia while banning any operations with cryptocurrencies using Russian servers and web domains.
Cryptocurrencies are considered goods and shouldbe indicated in tax returns. However, they will not be legally permitted for sale. The project fully reflects the position of the Bank of Russia, which favors blockchain securities, but does not believe that cryptography should be legal in the country.
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