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Distributed Registry Systems

Company

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The company is engaged in the development of Russian technologies using distributed registers of Fintech of the Central Bank of the Russian Federation.

Owners:
Gazprombank (GPB)
VTB Bank
Promsvyazbank (PSB)
FinTech Association (AFL)
National Payment Card System (NSPK)
Moscow Exchange

Owners

+ Rosneft of the Tax Code
+ Nowfinteh
+ Fridman Mikhail Maratovich
+ The Mark Foundation for Cancer Research
+ Khan German Borisovich

Distributed Register Systems LLC is the first blockchain operator in Russia. It was created in April 2021 by the largest financial organizations in Russia: VTB, Gazprombank, PSB, the National Payment Card System, the Moscow Exchange, as well as the FinTech Association. The company's goal is to create a Russian infrastructure of distributed registers for the financial sector, introduce innovative services and study the potential for applying blockchain in the Russian market. The Distributed Register Systems company is the operator of the domestic blockchain platform Masterchain.

History

2023: Inclusion in the register of information systems operators for the issue of CFA

Masterchain Company (Distributed Register Systems LLC) on March 9, 2023 announced that it had received the status of an information system operator in which digital financial assets (CFA) are issued on its own blockchain platform, which is part of the register of domestic software. The company will provide the market with a platform for the release of CFA, as well as licensed software for organizing the work of future information system operators.

Masterchain plans to admit clients to its platform for the release and trading of CFA. The company is also considering connecting external agents and brokers to attract even more issuers and investors.

In the first stage, the company will issue digital financial assets to the right of monetary claim, which can be structured either as bonds (without reference to assets) or as structural instruments with reference to any type of assets. In subsequent releases, the remaining types of CFA will be issued: hybrid, to a share in a non-public joint-stock company and the right to claim issue securities.

Masterchain already has a number of agreements on the release of CFAs with leading Russian companies. Among them are VTB Factoring, where the base asset for the CFA will be a portfolio of obligations assigned to the factor, and the developer G-Group, which plans to release the CFA Masterchain on the platform with reference to the cost per square meter of housing under construction.

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We have long discussed with colleagues from Masterchain the possibility of issuing CFAs with reference to the market value per square meter in the company's residential complexes or rental income from the commercial area of ​ ​ our shopping centers. We believe that this product is in demand on the market. With the help of the Masterchain site, we will be able to offer Russian investors a completely new investment product that connects the innovative financial instrument of the CFA with the real estate, - said Alexey Fathudinov, director of the CFA of Ji-Group JSC.
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Own expertise at the CFA allows consulting in the process of creating a CFA operator, "said Ivan Operchuk, CEO of Masterchain.
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The Bank of Russia has included Masterchain in the register of information system operators. In our opinion, this will create an additional incentive for the development of the digital financial asset market in Russia. We are confident that Masterchain has the competencies necessary to offer the market an original blockchain platform for a large range of CFA issuers and expand the product line of basic assets for digitalization, "said Dmitry Ishchenko, Deputy General Director of the FinTech Association, member of the Board of Directors of Distributed Register Systems LLC (operating under the Masterchain brand).
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The CFA platform, with which the company was audited by the Bank of Russia, is available to future information system operators as licensed software. Masterchain for March 2023 has already entered into the first deals to sell the platform, negotiations are underway with other market players.

2022

Refusal to pay for work ordered from TAdviser

In 2022, Distributed Registry Systems ordered an advertising campaign in TAdviser. After part of the work was completed, the company changed performers. The new team refused to fulfill its obligations. Probably, such cases may occur in the future and on other projects of the organization.

Obtaining a license from FSTEC of Russia

The Distributed Register Systems company has received a license from the FSTEC of Russia to perform work in the field of technical protection of confidential information (TZKI). The company announced this on December 12, 2022. The expansion of competencies will increase the availability of blockchain technologies on the Masterchain platform for that category of large customers who have special requirements for information security expertise of their IT suppliers.

The company confirmed the availability of specialized expertise and software and hardware systems for the implementation of licensed types of activities.

The FSTEC license allows Distributed Register Systems to provide a wide range of services in the field of technical protection of confidential information, including designing information systems in a secure version, and conducting software research for compliance with FSTEC requirements. The company also has the opportunity to provide a number of consulting services in the field of protecting confidential information, including monitoring the security of confidential information from unauthorized access and its modification in informatization tools and systems, as well as services for installing, installing, adjusting, testing, repairing information protection tools, etc.

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The FSTEC license for TZKI confirms the competencies of the Distributed Register Systems in the field of information protection and will allow Russian organizations, in particular from the state, financial sector, companies with state participation, to strengthen the course towards decentralization of business processes, - said Alexey Shishov, Director of Information Security of the Distributed Register Systems company.
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2021

Appointment of Igor Kuzmichev as General Director

Igor Kuzmichev has been appointed General Director of the operator of the Masterchain blockchain platform "Distributed Register Systems." The company announced this to TAdviser on December 1, 2021. here.

Established the first blockchain operator in Russia

Logo in 2021

Financial organizations included in the FinTech Association signed constituent documents on the creation of a new company - Distributed Register Systems LLC. Representatives of Gazprombank, VTB, PSB, the National Payment Card System (NSPK), the Moscow Exchange and the AFL put their signatures on the documents.

The new company will develop Russian technologies using distributed registers. This will allow you to develop innovative products and services, as well as reduce costs for all market participants.

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Already today, the Masterchain platform, in the creation of which Gazprombank participated, helps financial institutions take into account electronic mortgages and conduct transactions for issuing digital bank guarantees. The creation of a blockchain operator, in turn, will allow focusing competencies in this area within one company and will contribute to the significant development of the financial industry on a new technological stack, - commented Dmitry Sauers, Deputy Chairman of the Board of Gazprombank
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As the head of the AFL Tatyana Zharkova noted, at the Association's site, the largest financial institutions have been developing the technology of distributed registers for several years.

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The establishment of a new society for the development of this area will give impetus to the creation of blockchain-based services for the Russian financial market due to deeper specialization and unification of the efforts of organizations that see the advantages for their business in the use of distributed registry technology, she said.
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AFL participants decided to separate the blockchain direction into a separate legal structure for the development of Russian IT solutions and technologies, both using Masterchain and other blockchain platforms in the future.