Russian central bank to set up blockchain working group

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The Bank of Russia has established a Working group for analysing prospective technologies and innovations in the financial market. Its priorities include the research of distributed technologies (e.g., Blockchain) and new developments in mobile, payment and other areas.

“The development of the present-day financial market is inseparable from the development of financial technologies, – said Olga Skorobogatova, Deputy Bank of Russia Governor, heading the group.

“Financial services are quickly digitalised, new business models and ecosystems of market participants emerge, and the behaviour of financial services consumers changes. The advanced financial market needs an advanced regulator that shall clearly understand the essence of new financial processes and technologies and their possible practical application,” she added.

The Working group plans to hold regular meetings with representatives of banks, self-regulatory organisations and other financial market participants to discuss different aspects of application of new financial technologies.

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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