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Qiwi intend to introduce blockchain in energy industry of Crimea

Qiwi payment system plans to introduce blockchain technology in the energy sector companies during 2017.

The pilot project is being developed in partnership with the Crimean “Tavrida Electric,” according to RNS with reference to the Qiwi press service.

"Qiwi already introduced blockchain technology in their processing in the spring in test mode. Next year we plan to launch a test project in a different sector of the economy – in cooperation with “Tavrida Electric,” Qiwi noted.

The essence of the project lies in the fact that each deal for energy supply will be recorded as a transaction in blockchain. Qiwi also do not exclude that other energy companies will be able to use this technology in the future.

"If a power company contracts for the supply of energy – it is entered as a transaction in blockchain. As a result the transaction will be visible to other energy companies, as well as government regulatory agencies," explained in Qiwi.

Qiwi's entering the market of Crimea may have negative consequences for the company, for political reasons, as well as put into question the membership in the blockchain-consortium R3. It should be noted that the adoption of Qiwi in R3 passed quietly enough, with no official press releases and comments by the consortium's management. As ForkLog edition knowns, R3 management at the same time denied another Russian banking structure in joining the consortium.

In June, the EU Council extended sanctions against Crimea for another 12 months – until July 2017. The sanctions include a ban on all European investments on the peninsula, including the acquisition of real estate, finance and business services. Also, the sanctions measures include visa restrictions and economic sanctions against a number of Russian state-owned companies of energy, defense and finance sectors.

According to the RNS, “Tavrida Electric” is related to the ex-head of the Legislative Assembly of Sevastopol Alexey Chaly, one of the main instigators of the Crimean events, 2014.

In October, Qiwi was the first Russian company to join the blockchain-consortium R3.

Previously, the company announced its intention to transfer its own system on distributed processing technology registers by 2021.

Source: forklog.com

  • December 1, 2016 6:38 PM MSK
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