Blockchain Tech Still Needs to ‘Mature’: Russian Central Bank’s Deputy Governor

According to Olga Skorobogatova, the first Deputy Governor of the Russian Central Bank, Blockchain technology has not yet been applied on an industrial scale, except for its use for cryptocurrencies, such as Bitcoin.

The Deputy Governor focused on security and scalability as key issues that still need to be resolved before industrial scale implementation can take off.

According to her, in the technology of blockade there are two use cases. One is well-suited for online calculations and operations, for example Skorobogatov led the Ripple platform, Corda. The second use case of Blockchain, as per her is designed for working with offline and contracts: this, according to the deputy chairman of the Central Bank, Ethereum, Hyperledger.

This week, the Russian parliament approved the first of three readings of new laws regulating the crypto and blockchain industries, which define both cryptocurrencies and crypto tokens as property.


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