Russia's Big Banks to Issue Bank Guarantees on Blockchain
** Hello eSteemian friends wherever you are !!! **
.webp)
Raiffeisen Blockchain Bank International has partnered with state-owned oil giant Gazprom Neft to issue a bank guarantee on the blockchain. Bank guarantees are part of trade finance transactions involving Raiffeisen, Gazprom Neft, Mozyr Oil Refinery and Priorbank from Belarus.
According to Tatyana Ivashkova, head of documentary transactions and trade finance at Raiffeisen Russia:
"Four nodes participated in the transaction, that is, all parties were fully connected to the platform.”
The blockchain allows all participants to access documents simultaneously and because there are no documents involved, transactions are completed as soon as payment is received. Raiffeisen bank also has a blockchain real estate program called Rosreestr that collects data and simplifies e-mortgage issuance.
Source Refference:
[cointelegraph.com]