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Monday, May 10, 2021
Home News Russian central bank to set up blockchain working group

Russian central bank to set up blockchain working group

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.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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