March 28, 2024

In Russia, created a blockchain platform for issuing interest-free loans

In Russia, created a blockchain platform for issuing interest-free loans

The Russian business most affected by the coronavirus quarantine got the opportunity to get a loan forPayments to employees on the blockchain platform.

On April 17, the Federal Tax Service (FTS) began testing a new service for preferential interest-free lending based on distributed registry technology. 

VTB and Sberbank are already operating on the platform in test mode. At the end of April, it is planned to launch the service and connect financial and credit organizations of the country to form a single space. 

Blockchain technology will allow you to create a separate node for each client.

Thanks to the distributed registry, banks will be able toinstantly process applications of companies, excluding paper bureaucracy and issue interest-free loans to entrepreneurs on the basis of information stored on the node within one business day.

Entrepreneurs from the list of industries affected by the spread of coronavirus infection can count on obtaining credit funds.

To apply for a soft loan at the time of application, the company must retain at least 90% staff compared to March 31, 2020.

In Russia, created a blockchain platform for issuing interest-free loans

Recall that against the backdrop of a falling economy, many firms began to lay off employees in large numbers.