The Rostec Group is a government-owned corporation that owns a number of technology enterprises in Russia. They’ve revealed that they’ve built a blockchain platform to create a digital system for international payments that might eventually replace the global Swift system.
Due to sanctions imposed by Western countries in reaction to the Russian-Ukrainian conflict, Russian banks were kicked out of the SWIFT system in February. Since then, Moscow has been looking for a financial payment system to replace SWIFT in order to secure its international trade dealings.
[Via]
