Russian payments provider Qiwi has revealed it wants to launch a domestic blockchain consortium it compared to the 44-member banking consortium R3CEV.
In statements today, Qiwi CTO Alexei Arkhipov expanded on his company’s work with blockchain tech, reiterating how the company has developed its own prototypes for payments processing. Originally nicknamed ‘BitRuble’, the project caused concern among local regulators, who have been moving to formally ban the use of blockchain-based digital currencies.
Arkhipov, however, said that sentiment regarding the technology is now changing, and that Qiwi is looking to create a consortium of regional banks, financial institutions and enterprise businesses that could band together to further explore the emerging technology.
If successful, the effort would mirror similar work underway globally. For example, the Dubai government announced the creation of the Global Blockchain Council (GBC) in May, a 30-member group of tech businesses, startups and government agencies.
Qiwi logo image via Facebook
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.