NSD will launch a blockchain platform for digital asset accounting

Next month, the Russian National Settlement Depository (NSD) plans to launch its decentralized digital asset accounting platform in Switzerland.

D3 (Decentralized Digital Depository) will initially track the ownership of multiple assets: Bitcoin depository bills and ether, everything ERC-20 tokens, the cryptocurrency of the Japanese firm Soramitu (Sora), and a security token, which is the unregistered shares of a small medical company.

At the same time, BTC and ETH will not be stored on the platform itself, but will be represented by receipts entered in the project’s distributed registry. In fact, they will be frozen on public networks using a smart contract, and then the rights to them will be transferred to the D3 network..

Further, they plan to add a reputable stablecoin pegged to the US dollar or euro to the platform for conducting OTC cryptocurrency transactions without risk for counterparties and delivery, that is, for all parties, the transaction will be completed simultaneously.

What are Assets? (Let’s Break Them Down)

NSD will launch a blockchain platform for digital asset accounting

Artem Duvanov, Director of Innovation at NSD, said CoinDesk, that the project combines the features of a public and a private network, so deposits are not at risk, even if the assets are held on an exchange.

Switzerland was selected due to its favorable legal environment and potential for further market promotion.

As a reminder, LVMH has partnered with Microsoft and ConsenSys to create a blockchain platform that will allow Louis Vuitton and Christian Dior clients to authenticate luxury goods..

text: Ivan Malichenko, photo: vdmsti

NSD will launch a blockchain platform for digital asset accounting

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