Russia’s RosEvroBank develops blockchain prototype to create remote customer identification

RosEvroBank, a privately-owned Russian bank, announced that it has developed a prototype on remote customer identification system that is based on blockchain technology from Microsoft.

The prototype system intends to dramatically change the market distribution of banking services. It will also change on how open-bank customers access to products and services of third-party banks that are participating in the inter-bank consortium without the need for a personal visit for identification. The solutions are based on cloud platform Azure Blockchain-as-a-Service (BaaS) from Microsoft.