RUSSIAN ANALOG OF SWIFT WILL SWITCH TO BLOCKCHAIN

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The switch to blockchain The Transfer System of financial messages, the Russian equivalent of SWIFT, is planned by the Bank of Russia. With the help of distributed registry technology, it is planned to increase security and ensure maximum transparency of financial transactions. The relevance of protecting banks from hacker attacks is especially important given that a number of banks, including the Russian Globex, have been victims of hacker attacks through the SWIFT system. Thanks to the new system, fees for transfers will decrease and amount to one and a half or two rubles. While the fees for SWIFT transfers are three to five euro cents.

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