The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing.Moscow Credit Bank has issued what it described as Russia’s first digital bank guarantee for an amount exceeding 100 million Chinese yuan, using blockchain technology — the Masterchain platform developed by the Central Bank of Russia.
“This is the first digital bank guarantee in the market, which was issued in yuan, through the Masterchain system. Most foreign trade contracts are serviced in Chinese currency, and the demand for payments in yuan is only growing,” commented Natalya Bahova, director of MKB’s International and Structured Finance Department.
Yay, more russian corruption
Is blockchain really necessary thing in this deal?
How fast do you think the rewards will run out?
Thanks to your team, pleases))
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Very interesting article
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This is interesting to say the least. However, longterm this will be a disaster. China and Russia are not capable of getting along for the long haul. Russia should fear a relationship with China. Russia would be much smarter to seek peace with NATO, and consider joining NATO.
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