Alfa-Bank joined the blockchain consortium …

Alfa-Bank joined the R3 blockchain consortium

Alfa-Bank was the first Russian bank to join the international blockchain consortium R3. The corresponding press release was published on the bank’s website.

“This is a great opportunity to integrate well-known financial institutions and Russian experience into the global financial structure that is being created on the basis of Corda,” said Alexey Blagirev, head of development at R3 in Russia and the CIS..

The R3 consortium brings together the largest financial institutions and regulators who want to use blockchain in their daily practices. The main product of the organization is the Corda blockchain platform, the first official version of which was released in October last year..

By joining R3, Alfa-Bank expects to contribute to the development of blockchain solutions in the Russian banking industry, as well as “provide customers with more convenient and affordable product solutions.”.

Alfa-Bank joined the blockchain consortium ...

“This is an excellent opportunity, together with the leading players of the global market, to create new instruments for financial transactions, as well as to significantly speed up mutual settlements on transactions and reduce the cost of individual operations,” said Maria Shevchenko, Chief Operating Officer of Alfa-Bank.

Recall that earlier Alfa-Bank, M.Video and Sberbank formed their own blockchain consortium. The last of them joined the Enterprise Ethereum Alliance in October last year.

Alfa-Bank joined the blockchain consortium ...

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