System of machine-readable powers of attorney on the blockchain

Main article: Electronic notary

2021

Testing of the prototype at ETP "TEK-Torg"

On November 23, 2021, the operator of the federal electronic platform of TEK-Torg JSC announced the launch of the Electronic Power of Attorney service into trial operation. The solution was developed as part of participation in the project of the Federal Tax Service (FTS) on machine-readable powers of attorney based on the digital platform of the distributed blockchain register . ETP "TEK-Torg" became the only electronic platform that took part in the experiment of the Federal Tax Service to test the prototype of the application. Read more here.

Launch of a system of machine-readable powers of attorney on the blockchain

The Federal Tax Service (FTS) has launched a system of machine-readable powers of attorney using blockchain technology . This was announced in November 2021 by the head of the department Daniil Egorov.

We launched a system of machine-readable powers of attorney on the blockchain. As part of this experimental project, we saw a beautiful opportunity to create a system that can theoretically absorb the electronic turnover of powers of attorney, "he said in an interview with RBC.

FTS introduced a system of machine-readable powers of attorney on the blockchain

According to him, if a company or individual issues a power of attorney to another person or organization to represent their interests, then it will no longer need to be worn by different banks and departments. As the head of the Federal Tax Service noted, "in the blockchain environment, it will be available to everyone where it can be used."

And moreover, as soon as some kind of adjustment occurs, it will also be available to everyone, "Egorov said.

He also noted that the department has an incredible value asset in the form of various kinds of data. According to Yegorov, they were structured, systematized, depersonalized where necessary, according to the tax secret.

By November 22, 2021, it was established that it was necessary to notify of the cancellation of the power of attorney of the person to whom this document was issued, as well as of third parties to whom he was supposed to present it.

Earlier, Daniil Egorov said that the distributed register system is "good" for checking banks the history of soft loans from customers. Most financial data is unstable in time, and when using a blockchain platform, they will be updated everywhere and at the same time, he stressed.

By November 2021, the Federal Tax Service is also working on a blockchain platform for providing banks with data on borrowers, a new generation system for tax control and a platform for transferring data to other government agencies.^[1]

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