The RT-Techpriemka company of Rostec State Corporation presented the industrial blockchain platform CELLS and application solutions developed on its basis, which as Rostec says, can provide a real alternative to SWIFT in international settlements.

RB.ru reports that the CELLS blockchain platform, developed by the Novosibirsk Institute of Software Systems (NIPS), is designed to create an ecosystem of software products and services based on distributed registry technology. The multifunctional system provides international payments, multi-currency transactions, user identification and digital currency storage.
 
“The digital payment system on the blockchain platform can be used as a full-fledged replacement for SWIFT, providing high speed, security and irrevocability of transactions. The system will allow switching to settlements in national currencies, eliminate the risk of sanctions and ensure the independence of national financial policy for clearing participants,” said Oleg Yevtushenko, Rostec Executive Director.

On the basis of CELLS, a data storage system, a blockchain platform for creating web applications protected from hacking and DDOS attacks, a digital passport service, a digital housing and communal services system and other solutions are also implemented. The platform provides up to 100 thousand transactions per second.

Potential consumers of the solution are independent software developers, system integrators, large companies, as well as authorities, financial institutions and banks.

To note, due to Western sanctions, eight Russian financial institutions have already been disconnected from SWIFT global payment system, and two more banks are in the process of being disconnected.

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