Russia Eyes Blockchain Potential for National Payment System

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Russia’s Association of Financial Innovation (AFI) has penned a roadmap for improving the regulation of the National Payment System including using Blockchain, has reported.

The Federal Assembly of Russia State Duma, the Ministry of Finance and the Federal Financial Monitoring Service will now review the AFI proposal, which has been created to help the Russian National Payments Council (NPC) with regulatory issues. 

The NPC is a multipurpose cross-branch venue for discussion of approaches and determining a consolidated opinion of Russian national payments system participants.
NPC objective is to consolidate national payment system participants’ efforts to provide its stability and increase efficiency of institutional and infrastructural components, consolidate market participants’ opinions on issues of development, accumulate and promote best practices, promote cutting-edge technologies implementation across Russian payment market.
NPC founders are: Sberbank of  Russia (OJSC), VTB Bank (JSC), Alfa-Bank (OJSC), Promsvyazbank (OJSC), VimpelCom (OJSC), Unistream Commercial Bank (JSC), Deutsche Bank, Golden Crown (money transfer).

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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