Russia will test an alternative to SWIFT and SPFS based on the blockchain

В России протестируют альтернативу SWIFT и СПФС на основе блокчейн

In Russia, the members of the Association of corporate treasurers (ACC) and “Association of FINTECH” (AFL), will test a new system based on the blockchain to transfer financial messages.

Testing will be conducted in the framework of the blockchain projects developed on the basis of the AFL.

Testing plan to launch in the second half of 2018. The participants of the project will be to develop a new electronic message formats based on the blockchain and will consider the implementation of the project in the economy.

According to the ACC President Vladimir Kozinets, companies are interested in creating a single, unified system of digital document management. This is the goal of the project.

It is necessary to tell that now in Russia the participants of the financial market use for data transfer system for Express money transfers SWIFT or its domestic analogue SPFS. According to Vladimir, these systems do not satisfy all the needs of incorporate and need new solutions based on the blockchain that will make money transfers more convenient.

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