Masterchain is the first national network for exchanging and storing financial data. It allows to effect payment online, promptly actualize the data as well as create financial services. Major Russian banks participated in developing the platform: the Central Bank of Russia, Sberbank, Alfa-Bank, FK Otkrytie, Tinkoff Bank, and the QIWI Group. As for now, the platform features the following services: a decentralized depository system for invoice accounting, a distributed registry of digital bank guarantees, emission of digital letters of credit, and the Know Your Customer project to prevent fraudulent transactions.
| Year | 2017 |
| Client | Central Bank of Russia and FinTech Association |
| Industry | Banking and Finance |
All Masterchain projects serve the goal of optimizing economic expenditures, preventing cybercrime, minimizing paperwork, and creating a safe and secure financial environment in Russia.
The technology reduces the involvement of middlemen, ensures the information is available to all interested parties when changes are made, and handles controlled transfer or exchange of property rights for financial instruments and assets while making all the necessary records.
In compliance with the regulatory provisions of the Russian law, the distributed registry does not store data that is subject to special storage conditions (protected by trade secret, personal data, etc.), does not require trusted intermediaries, does not contain a single point of failure, supports smart contracts, and has a scaling feature by the number of participants and transactions. The communications between the nodes of the network are based on the modified Ethereum protocol.
We create a new digital environment for institutions and entire industries. We devise tokenomics of individual projects and create infrastructure and product solutions in the global technology market.
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