“Absolut Bank” held the first commercial transaction to issue digital Bank guarantee on the basis of the blockchain-platform “Mastercam”. As reported by the journal ForkLog representatives of financial institutions, a guarantee was issued by OOO “ETHAN” on the supply of food for the Medico-sanitary part No. 59, Federal medical-biological Agency.

According to participants of the transaction, information about the issued guarantees will be stored in a distributed registry “Mastercam” that allows you to convert all operations to digital format. In particular, the beneficiary will be able online to obtain information on production of a Bank guarantee.

In addition, the technology of the blockchain takes into account the privacy requirements of information eliminates the possibility of falsification of the document and accelerates the interaction between participants of the market of public procurement.

“Providing technological services in design online Bank guarantees is one of the priority projects of the Bank. This technology is in our Bank is already running in commercial operation, and we expect that up to 20% of the issued 2019 online guarantees will be digital”, — commented Chairman of the management Board of Absolut Bank Tatiana Ushkov.

Note that for 2018 “Absolut Bank” has released more than 113 thousand online-guarantees for the sum about 50 billion roubles in the framework of state contracts.

We will remind, at the end of September 2018 Raiffeisen Bank released the mortgage on the blockchain the platform “Mastercam”.