Two months after President Vladimir Putin met the founder of ethereum — the world’s biggest cryptocurrency after bitcoin — a consortium of the country’s biggest banks has developed a distributed ledger dubbed Masterchain.
This ledger uses a modified ethereum protocol while complying with national security standards, according to the country’s central bank-backed FinTech Association.
The lenders, including Sberbank PJSC and VTB Group, are hoping that by adopting the technology they will make payments safer and faster while thrusting Russia to the forefront of a trend that’s transforming the financial industry.
Russian banks look to a Blockchain futureRead More
