DK Region joined the experiment on digital mortgages on the Masterchain blockchain platform

2022: Joining the digital mortgage experiment on the Masterchain blockchain platform

On July 5, 2022, it became known that to state a electronic mortgages specialized mortgage coverage depository - was connected to the experiment on testing the distributed registry technology for transmission, notifications and requests. DC Region Depositary accounting of electronic mortgages as part of the experiment was implemented on the basis of the solution "on Decentralized Depository System "(DDS) blockchain the -platform," the MasterChain operator of which is LLC "."Distributed Registry Systems

As part of the experiment, DC REGION began to exchange documents with Rosreestr on electronic mortgages of its clients as a storage depository, being also an accounting depository.

At the beginning of July 2022, a limit was established for testing the system in the amount of several mortgages per day with the possibility of increasing the limit when scaling the project and switching to DDS as a target accounting system.

Blockchain technology, acting as the basis of DDS, significantly accelerates and simplifies the release of electronic mortgages by creating a separate channel for the exchange of documents with Rosreestr and building a standardized process of depository service for all depositories - members of the network. In particular, the document flow between the depository storing the electronic mortgage and the depository accounting for the rights of the owner of this security has been standardized and automated. In addition, by increasing the transparency of the movement of electronic mortgages, the technology guarantees the absence of "lost" mortgages during their transfer and excludes unauthorized actions with documents.

Depositary accounting of mortgages and maintenance of mortgage coverage registers are the key areas of our company's activity. Therefore, the manufacturability of interaction processes is very important for us, as well as the efficiency of obtaining information from Rosreestr on registration actions with mortgages. Thanks to the Masterchain channel, we expect to optimize our interaction with Rosreestr and significantly reduce the cost of establishing interpositarian relations with storage depositories, if for the client we act only as an accounting depository, and it performs the storage depository function independently and is also a member of the DDS, - said Anna Zaytseva, General Director of DC REGION.

Joining one of the special depositories and its clients to the state experiment is an important step towards scaling the product for the industry. The growth in the number of participants in the national distributed register of electronic mortgages demonstrates the market's readiness for new solutions for the digitalization of mortgage transactions, - said Igor Kuzmichev, General Director of Distributed Register Systems.