A domestic blockchain platform has appeared in Russia

Blockchain technology developer Web3 Tech announced the launch of the Confident platform. RBC Crypto reports this.

According to the publication, Confident is a blockchain platform for building government and corporate information systems. It represents a ready-made distributed infrastructure – from the network layer to the application layer. Automated business processes for customers work there.

The blockchain platform from Web3 Tech is a completely Russian development with certification of cryptographic information protection tools (CIPF) KS2. According to the company, Confident is now undergoing the procedure for inclusion in the Russian software register.

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The new platform has a solution for implementing business applications, support for GOST and other cryptography standards. Confident also allows you to create smart contracts in any programming language. This infrastructure is fully compatible with Russian operating systems, which allows you to work with confidential data.

Platform for circumventing sanctions

Previously, Web3 Tech developed a blockchain platform for international payments. Through it you can make transactions in cryptocurrency, digital financial assets (DFAs), as well as traditional currencies. The platform can also be used both for cross-border transactions and within Russia.

According to the developers, the platform supports any third-party public blockchains. They create smart circulation contracts and bridges for the transfer of popular cryptocurrencies (stablecoins USDT, USDC and others) from public networks. The company has already conducted the first pilot tests, but did not disclose information about the customers, saying that these are “large clients with revenues of hundreds of billions of rubles.”

“Killers” of SWIFT on the blockchain

The Center for Distributed Ledger Technologies of St. Petersburg State University also presented a platform for cross-border payments bypassing SWIFT. This system has already been tested by dozens of organizations; it is completely ready for use.

A replacement for SWIFT was also developed by the Rostec state corporation. In June 2022, they reported on the development of a distributed registry of interbank messages called CELLS. The direct development of the project was not carried out by Rostec, but by the Novosibirsk Institute of Software Systems.