Moscow

Association_FinTech

Masterchain uses the Ethereum blockchain code base, modified to meet the requirements for Russian cryptography, user identification and secure scaling.

Key principles of MasterChain:

<ul>
	<li>The distributed register "MasterChain" does not store the data requiring a specific mode of storage (the data protected by a trade secret, personal data, confidential data, etc.)</li>
	<li>The legal importance (within the Russian jurisdiction) information processed in "MasterChain"</li>
	<li>Lack of technical need for the entrusted intermediaries</li>
	<li>Support of programmable contracts (smart contracts)</li>
	<li>Lack of a uniform point of failure</li>
	<li>Independent accounting of the resources spent by participants for system operation support</li>
	<li>Scaling option (by the number of participants and transactions)</li>
</ul>

The Central Bank, Sberbank, Alfa-Bank, FC Otkrytie, Tinkoff Bank and the QIWI Group of companies&nbsp;took part in the creation of the platform.

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Masterchain

blockchain

Russian ecosystems saw an increase in the number of users in their super-apps over the past month. The daily active users of the Tinkoff super-app increased by 15% compared to the previous month. Sberbank has also seen an influx in users. The company’s spokesperson clarified that “today, the monthly number of users of the mobile app has reached almost 75 million”.

 
 Nikita Lomov, the head of the analytical department of the Fintech Association, noted that Russian services will be in higher demand due to the withdrawal of a number of foreign companies from the market. At the same time, individual ecosystems have developed together foreign services that no longer work in Russia. In this regard, MTS reported that they were “accelerating the integration of Russian and foreign partners into their own ecosystem”.

 
 <a href="https://ict.moscow/news/rossiiskie-ekosistemy-soobshchili-o-roste-auditorii-za-mesiats/" target="_blank" rel="nofollow">Original (in Russian)</a>

Kommersant

Russian Ecosystems Announce Growth in the Number of Users in Past Month

VTB and MTS were the first in Russia to carry out a transaction to issue a bank guarantee using the <a href="https://ict.moscow/en/card/masterchain/" target="_blank">Masterchain</a> blockchain platform.

 
 The operation was carried out in real time: VTB issued a digital guarantee signed with an enhanced qualified signature, MTS accepted the document, sent a notification to the bank, and clarified it to VTB.

 
 According to Vadim Kulik, Deputy President and Chairman of the VTB Management Board, the issuance of electronic bank guarantees makes it possible to speed up the process and reduce paperwork. In turn, Alexander Smirnov, director of the corporate finance and treasury department of MTS, noted that accounting guarantees in the Masterchain network would allow consolidating information on all issued bank guarantees in favor of the MTS group in a single system. This will significantly speed up the process of their issuance and receipt, reduce operating costs for administration, Smirnov believes.

 
 The Masterchain platform has been developed since 2016 by banks within the Fintech association under the auspices of the Central Bank of the Russian Federation. Qiwi, Sberbank, Alfa-Bank, Tinkoff Bank and others also took part in the creation of the platform.

 
 At the end of 2019, Masterchain passed the FSB certification and was put into commercial operation.

 
 <a href="https://ict.moscow/news/vtb-i-mts-proveli-sdelku-po-vydache-bankovskoi-garantii-cherez-rossiiskuiu-blokchein-platformu/" target="_blank">Original (in Russian)</a>

Masterchain

MALT

CargoTech

Exonum CIS

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