Central Bank of Russia to use Blockchain for e-Mortage project

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Central Bank of Russia to use Blockchain for e-Mortage project. The Central Bank of Russia is reportedly developing a digital mortgage platform powered by a domestically developed blockchain called Masterchain.

Masterchain has recently started to support digital mortgages, which forms a foundation for the upcoming platform. 

The financial institution has already submitted the proposal for its digital mortgage project to the government and the Federal Service for State Registration, Cadastre and Cartography (Rosreestr).

Master chain is reportedly the first blockchain platform in Russia to be certified by the Federal Security Service, or FSB. According to previous reports, it is a permission, Ethereum-based blockchain that was launched in 2017 by the FinTech Association, an entity affiliated with the Bank of Russia.

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