Russia

Waves blockchain used to track Russian energy consumption

December 19, 2019
The pilot program is already being used by 400 homes and may expand nationwide in the coming years.   A Russian power grid company is piloting a blockchain-based system that’ll automate electricity metering. Those behind the pilot, so far implemented in 400 homes in the Kaliningrad and Sverdlovsk regions, are planning on expanding the pilot to serve

Aluminum Plant Gone Bitcoin Mining Center: Bitriver Deemed the Largest Data Center in Russia

December 4, 2019
City of Bratsk in Russia is home to one of the biggest bitcoin mining facilities in the world and has attracted clients globally as Bitriver turns water into electricity to mine cryptos. Opened a year ago, Bitriver is recognized as one of the largest Bitcoin mining facilities in Russia. As per news outlet, Bloomberg, the

Russian Banking Giant Sberbank Awarded Blockchain Repo Patent, Parties To Settle Using DLT

November 29, 2019
In the latest turn of events, Russia’s Sberbank Rossii becomes the first to obtain a distributed ledger technology (DLT) patent. The Sberbank blockchain patent obtained for an operational engine using DLT and a Repurchase Agreement (repo) dealing with a smart contract solution. The patent solution allows stakeholding parties to self-execute the deal after registering the

Russia Outlines Plan to Allow for Confiscation of Cryptocurrencies by the End of 2021

November 18, 2019
New legal statute in Russia may allow the government to seize bitcoin and digital assets from users by the year 2021. The Russian government is considering enforcing a law to curtail the use of digital assets for criminal activities, local financial news outlet RBC reported on November 7. The Ministry of Internal Affairs of Russia,

Alfa-Bank, Commerzbank Pilot Cross-Border Payments on R3’s Marco Polo

October 15, 2019
Alfa-Bank and Novolipetsk Steel Company (NLMK), in cooperation with Commerzbank and Vesuvius GmbH, are piloting Russia-Germany cross-border payments on R3’s Marco Polo network. Powered by R3’s Marco Polo Blockchain Global Trade Network On Oct. 11, Alfa-Bank announced that it is launching a foreign trade finance pilot transaction, with the cooperation of NLMK, Commerzbank and Vesuvius

Blockchain technology progresses across key industries notably telecommunication

February 22, 2019
We have seen significant progress towards developing the blockchain technology in recent weeks. Financial institutions and governments which were initially the main opponents have now turned out to be the leading proponents of the blockchain technology. The research on blockchain applications has now started spreading across almost all industries and supported by leading multinationals and