Both the Russian National Settlement Depository (NSD) and Ministry of Health have been consulting with industry players to develop blockchain-based applications for financial services and the healthcare industry.
Announced on August 11, 2017, the NSD, together with self-described "blockchain for the people" Waves Platform, will launch a crypto-assets platform. A pilot will be unveiled in 2018 when development is expected to be finished. The platform will host and store tokenized assets, and give IDs to owners of crypto wallets.
The digital assets platform spearheaded by the NSD will rely upon developers and legislative efforts to establish risk mitigation for ownership of tokenized assets, ensuring a regulated and user-friendly environment for traders.
Astanin added, "In partnering with Waves, our goal is to create a secure and user-friendly accounting infrastructure for digital assets. We consider the platform would not only provide technological and legal protection of all parties involved, but also extend variety of post-trade services for investors, custodians and new institutions emerging in this sector of economy. It is also important to synchronize our efforts with the work of regulators in this field.”
In a similar announcement today, the Russian Ministry of Health revealed that, in conjunction with national development bank Vnesheconombank (VEB), pilot projects utilizing blockchain technology will be cultivated. Come September, the VEB is going to launch the Centre of Competencies to focus on solutions via the blockchain workspace for medical applications. More interest in blockchain applications for health care may be due to a recent law signed by Russian President Vladimir Putin relating to the digitization of medical related documentation, prescriptions, and telemedicine.
In the past, Russian authorities have sent mixed signals on blockchain regulation. However, recent developments, including the reversal of a 2014 ban on cryptocurrencies and elimination of fines related to using them, indicate acceptance. Now it would seem that acceptance is paving the way to action, with these pilot programs perhaps galvanizing the future of crypto within the federation.
Full article: https://www.ethnews.com/russian-government-organizations-are-embracing-the-utility-of-blockchain-technology?platform=hootsuite
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