Central Bank of Russia to Deploy E-Mortgage Platform Powered By Blockchain

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The Central Bank of Russia has already sent an official proposal to relevant government agencies, including the Federal Service for State Registration, Cadastre, and Cartography (Rosreestr). The blockchain platform is already supporting digital mortgages, as it prepares for the launch of the upcoming platform.

Before now, Masterchain has been used to facilitate e-mortgages. Back in September 2018, a Raiffeisen Bank subsidiary revealed documents on mortgage transactions including duration, credit load, and some data on the people involved in a Masterchain mortgage transaction.

Back in March, the head of the Central Bank of Russia’s legal department Alexey Guznov, confirmed a bill that classified cryptocurrencies as an “unjustified risk.”

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