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13 October 2016

80% of Global Banks Want to Launch Distributed Ledger Technology in 2017: Deputy Chairman of the Bank of Russia

"Distributed ledger technology, including blockchain used for bitcoin cryptocurrency, is planned to be adopted by 80% of global banks in 2017," stated Olga Skorobogatova, Deputy Chairman of the Bank of Russia.

"Figures speak for themselves: 80% of [global] banks plan the implementation [of distributed ledger technology] in 2017. Central Banks also take an active part in this work, because it is necessary to understand whether regulatory and supervision measures are needed or not," Olga Skorobogatova stated at the Finopolis 2016 Innovative Financial Technologies Forum.

According to the information of the Deputy Chairman of the CB, more than 90 Central Banks of the world in total participate in discussion and generate their positions to distributed ledger technology. As an example, she mentioned a range of countries in which projects based on this technology are executed at the state level.

Notably, UAE plan to organize government document exchange with help of blockchain, Estonia is implementing notary service under e-Residency program, local authorities of Singapore open the first blockchain technology development center.

"Australian Stock Exchange also plans to switch from its electronic ledgers to blockchain system," she added. National digital currencies based on distributed ledger technology are also discussed by a number of countries. "Great Britain, Singapore and China talked about their plans to emit controllable e-currency," told Olga Skorobogatova.
Source: RIA Novosti/Prime.