Russia`s Exchange Uses Blockchain To Attract Investors

Russia`s Exchange Uses Blockchain To Attract Investors

The Moscow Stock Exchange is trying to recruit international investors, while using Blockchain technology.

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The Moscow Stock Exchange is trying to recruit international investors, while using Blockchain technology.

Moscow`s Exchange Group`s head of decentralized solutions, Alex Yakovlev, said in an interview that they are using a blockchain solution that relies on Hyperledger Fabric and can ensure investors that the tokenized votes they cast are counted in a proper way, according to the publication.

“You avoid miscounting and double-spending because of tokenization. You count inside the blockchain and you put the results inside it. That’s cool for foreign investors, because in the case of Russia, we need the trust from outside.”, as he said.

The e-voting platform and another blockchain solution for recording commercial papers are implemented in Russia`s National Settlement Depository, a divison of the Moscow Exchange Group, along with a proxy-voting service that allows the stock owner to vote without disclosing information about themselves.

“Because of tokenization, you receive real trust because it is the same as cryptocurrency.”, as Yakovlev explained.

Still, regulators and others can see some of the information in compliance with the law.

“You can trace the [data] if you have special rights.”, as he added.

Yakovlev has been a member of the Linux Foundation for more than 20 years and has been reportedly pushing within the Moscow Exchange Group to adopt blockchain technology.

He presented his ideas at the Hyperledger member summit in Brooklyn, New York, where he spoke about his vision for an integration of zero-knowledge proofs with Hyperledger. It was the first time this idea was presented to the general public.

A potential more widespread implementation is to follow. Therefore, Yakovlev met with some international Central Securities Depositories (CSDs) in London in May.

“It will make technology cheaper because you will not need to set up a whole system inside each country. [Further,] you will be allowed to set up a node with unified interface and it will allow [you] to work with each country with the same level of trust for corporate actions.”, as he said, while speaking to coindesk.com.

As he commented, the Moscow Exchange Group`s blockchain platform can be used to help other developing nations to look towards the benefits of distributed solutions.

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