In the “sandbox” of the Bank of Russia piloting of the blockchain platform completed

In the regulatory sandbox of the Bank of Russia, piloting of a blockchain platform for issuingand circulation of digital rights. It allows you to digitize (tokenize) goods, services, securities and other assets.

A special feature of the site is the possibility of issuinghybrid tokens backed simultaneously by various assets. Any organization will be able to issue digital tokens on the platform. All this allows expanding a business’s ability to attract financing, and also creates new convenient investment tools for consumers.

“This was one of the largest projects"sandboxes". We studied the new business model in detail and how it fits the needs of the market. An important detail of the service is the use of hybrid tokens, which make it easy to adapt to the needs of businesses and consumers and provide flexible solutions for attracting investments. Based on the results of the piloting, the Bank of Russia proposed to include in the draft federal law “On Digital Financial Assets” the provisions necessary for the implementation and development of such solutions in the emerging market of digital assets, which were supported by government agencies and business,” noted Ivan, Director of the Department of Financial Technologies of the Bank of Russia Zimin.

Blockchain platform developedPJSC MMC Norilsk Nickel will be able to begin its activities after the adoption and entry into force of the draft federal law “On Digital Financial Assets,” which was finalized based on the results of the pilot.

Let us remind you that the Bank’s regulatory sandboxRussia allows you to test innovative technologies and services in the financial market and, if they are successfully piloted, initiate the preparation of legislative changes aimed at removing barriers to their implementation. Any organization can apply to the sandbox by submitting an application to the Bank of Russia.

 

Information taken from the site www.cbr.ru