System of transmission of financial messages (SPFS), which is the Russian analogue of SWIFT, will be transferred to the blockchain in 2019. This is with reference to a source close to the Bank of Russia and two representatives of the banking sector according to Izvestia.

Recall SPFS was launched in 2014 in response to proposals to disconnect from the international interbank system of information transfer and Commission of payments (SWIFT), the Russian banks actively discussed at the moment in the Ministry of foreign Affairs of European countries and the European Parliament.

As explained by news experts, first of all, the transition to the blockchain needs to provide the maximum protection and transparency of financial transactions, which in turn will make the system SPFS more attractive to financial institutions and companies.

In addition, the step is increasing the security against hackers.

“Application of blockchain technology, will undoubtedly enhance the level of protection SPFS against hacker attacks. This is especially true given the fact that a number of banks, including Russian “Globex”, were victims of hacker attacks through the system SWIFT”, — said the head of analytical management of BKF Bank Maxim Osadchy.

Despite the fact that in General information is not enough, the name of the platform that probably will be used for SPFS, has already sounded. As noted the source of the News, we are talking about the Ethereum platform, or “self-development on the blockchain” — currently this is solved in the CBA.

Given the problem of scalability of Ethereum, apparently, refers to a private blockchain-based Ethereum, however, is only an assumption, expressed in the number of foreign media, in particular, journalists of the Internet portal Trustnodes.

As you know, in August last year, the Creator of Ethereum, Vitalik Buterin signed an agreement with Vnesheconombank, in which the organization Ethereum Russia will provide technological support to projects VEB, and two months earlier, in June, a meeting was held Balerina with President Vladimir Putin.

Referring to Putin’s position, according to which “in the competition” innovative technologies Russia cannot afford to lag, and attributed to him to assist the authorities of Venezuela for the production of Petro token, journalists Trustnodes suggest that the “bacchanale” SPFS may be a factor which will accelerate the introduction of technology in Russia and, possibly, will outstrip other countries.

We will note, according to the News, the Central Bank confirmed that there are “a variety of applications of technology”, including its use for transmitting financial messages, the cost of which, moreover, is 1.5-2 rubles, despite the fact that the rate for SWIFT per message — €0,03-0,05.

Moreover, SPFS using a blockchain can become even stronger than SWIFT — this is the opinion of the chief-analyst of Teletrade Peter Pushkarev, who was interviewed by the journalists of the newspaper. With the SWIFT system employs more than 9,000 banks from 209 countries, but in Russia SPFS, which is used as a backup channel and alternative to SWIFT, is becoming increasingly popular: the number of organizations connected to the system, for the last year increased by 22% to 403 companies, including the state Corporation “Rosneft” and VEB.

We will remind, a month ago, the Central Bank proposed to consider the use of chain Mastercan, which, incidentally, is based on the Ethereum blockchain, to create a single payment space in the Eurasian economic Union.