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Russian Tax Authority Develops a Blockchain-Based Platform for Powers of Attorney

November 22, 2021, 11:25 (UTC+3)|

The Federal Tax Service (FTS) has developed a system of machine-readable powers of attorney on the blockchain. In the future, it will be able to replace the electronic circulation of powers of attorney, according to the Head of the FTS Daniil Yegorov.

Documents and any changes to machine-readable powers of attorney will be immediately available in blockchain from anywhere. In addition, “if a company or a person issues a power of attorney to represent their interests to another person or another company, then you no longer need to carry it with you to different banks and departments,” said Yegorov.

Earlier, Forbes reported that the blockchain platform of the Federal Tax Service is already being used to work with banks. In particular, it cinsiders the "paperless" provision of services to bank customers.

Original (in Russian)








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