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

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…

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

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

Blockchain technology progresses across key industries notably telecommunication

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…