Commercial bond trading platform based on Blockchain in Russia

The new commercial bond trading platform- National Settlement Depositary (NSD) assemble on top of the Hyperledger Fabric. The NSD is the central depository for the biggest securities exchange group in Russia.

According to Eddie Astanin, NSD Executive Board chairperson, their main intention is to establish a Blockchain infrastructure for novel financial products to operate on.

“The ultimate goal [of the] NSD is to build Blockchain infrastructure for any innovative financial product to operate on. Once the infrastructure is created, [the] technology holds potential to deliver a large variety of financial products and services operated by smart contracts”.

Altoros, Software Company California has also equally contributed to the development of the prototype bond trading platform.

Also Read: Deputy Finance Minister says, Russia to ban bitcoin payments

Effect of the MegaFon bond sale test

As part of the trial run, to buy $10 million worth of bonds of MegaFon in which Raiffeisenbank Russia has utilized the prototype bond trading platform. Since December 22 is the bond’s redemption date.

According to NSD, it has resolute that the technology is effectual in keeping the trading process in the platform “transparent and simple” although the transitory nature of the pilot test.

NSD’s other Blockchain initiatives

NSD is also progressing other projects based on distributed ledger technology (DLT) and Blockchain. It is amongst the creation of a cryptocurrency wallet for banks, retail investors, and pension funds.

Additionally, with public code viewable on GitHub, the NSD has also embraced open-sourcing. The Linux Foundation leads the hyperledger consortium with the intention to build Blockchains for business enterprises. However, the consortium comprised over 130 members.

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