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VEB to present a blockchain-based prototype of a technological solution at SPIEF’17

In conjunction with SPIEF’17 (St. Petersburg International Economic Forum) Vnesheconombank will present at its display stand a prototype of a technological solution developed using the blockchain method.

The investment projects of VEB involve scores of organizations, hundreds of contracts and tens of thousands of support documents worth billions of rubles. Therefore, a technology is required for digitizing these relations and making the operations fast and transparent. Such tasks can be optimized by blockchain technology, the potential and operational features of which are being thoroughly investigated by VEB specialists.

“We are working hard to introduce blockchain technology both at the government level, participating in the development of the Digital Economy program, and bank-internally through financial funding transactions and investment projects management. The first prototype of the technological solution is already in operation, enabling the conclusion of transactions with borrowers in digital format. This will substantially cut down the document circulation and overheads, increasing the interaction speed with customers,” said Sergey Gorkov, VEB Chairman.

“We are introducing the new investment process and automated services of interaction with customers. The blockchain-based technological solution, which we are testing now, may become one of the elements of this system,” he added. At the SPIEF, VEB organizes the Explosive Impact of Blockchain Technology panel discussion due to take place on 2 June, from 09:45 to 11:00. Among its participants are Igor Shuvalov, First Deputy Chairman of the Russian Federation government, Nikolai Nikiforov, Minister of Communications, Vitalik Buterin, Founder of Ethereum, Valery Vavilov, Founder and Chief Executive Officer of BitFuryGroup, and others. The participants will discuss the prospects and risks of introducing the blockchain in Russia, the applied potential of technology for addressing business tasks and the state management system.

Source VEB

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Jeudi 8 Juin 2017