The Russian National Settlement Depository (NSD), which is part of the Moscow Exchange, has prepared a White Paper describing an analysis of the use of blockchain in Russia and in the world.
As part of the document
practical experience of working on projects, scenarios of asset tokenization, management and standardization problems are considered. The document was called “Implementation of blockchain ecosystems in the financial infrastructure of the market: limitations and opportunities.”
As noted in the press release, NSD is one of the leaders in the use of blockchain among central depositories in the world. Previously, the organization has already implemented a number of solutions based on technology, for example, the issue of commercial bonds, the creation of a distributed digital depository and the settlement of over-the-counter repos.
In a statement to NSD, the Director of Innovation, Artem Duvanov, noted that the main objective of the organization remains the development of the financial market and the offer of services and technological solutions demanded by its participants. He also said:
“Implementation of the blockchain in some cases allows us to simplify the architecture of systems and offer a cheaper solution compared to centralized options. The emergence of new types of digital assets can also stimulate the introduction of distributed ledger technology to ensure market transparency for regulators and protect investor rights. ”
The document highlights the main problems of blockchain-based systems: insufficient security and the complexity of the interaction of various blockchain platforms. In addition, NSD analysts mention performance and scaling issues.
The report also states that standardizing the requirements for working with such platforms is critical for implementing solutions based on distributed registries. In addition, the document addresses the issue of asset tokenization. NSD puts forward its own classification of tokens depending on the degree of risk, assigning the highest level of reliability to the digital currencies of central banks.
NSD analysts consider the People’s Bank of China project, which recently refuted, the most successful initiative in this area
rumors about the release of state cryptocurrency in November.
The document also discusses the possibilities of introducing blockchain in the commodity market and states that the grain market can become a pilot training ground for assessing the capabilities of technology in real conditions. According to the organization’s analysts, if we combine the bidding, settlement and supply chain management process into a single ecosystem, we can reduce the risks and costs in this market.
Recall that in the spring the National Settlement Depository launched
in Switzerland, the D3ledger decentralized platform for stock tokens.
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