The issue of digital rights blockchain platform: a pilot project in a regulatory sandbox

Regulatory “sandbox” of the Bank of Russia completed successfully piloting a blockchain platform for the production and circulation of digital rights. It allows you to digitize (to tokenservice) goods, services, securities, and other assets.

A feature of the site — the possibility of producing hybrid tokens are provided simultaneously various assets. To issue digital tokens on the site can any organization. All this allows us to empower businesses to attract financing, and also creates a new consumer convenient tools for investment.

“It was one of the most ambitious projects of the “sandbox”. We studied a new business model in accordance with market needs. An important part of the service using hybrid tokens that allow you to easily adapt to the needs of business and consumers and provide flexible solutions to attract investment. Following the piloting, the Bank of Russia proposed to include in the draft Federal law “On digital of financial assets” provisions necessary for the implementation and development of such solutions for the emerging market of digital assets, which were supported by the state authorities and business”, — said the Director of the Department of financial technologies, Bank of Russia Ivan Zimin.

Blockchain platform developed by PJSC “MMC “Norilsk Nickel” and can start its activities after the adoption and entry into force of the draft Federal law “On digital of financial assets”, which was modified by the results of the pilot.

Recall that regulatory “sandbox” of the Bank of Russia allows to test innovative technologies and services in the financial market and in case of their successful piloting, to initiate legislative changes aimed at removing barriers to their implementation. To contact “sandbox” can be any organization, by submitting an application to the Bank of Russia.

17 Feb 2020