Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent in Iran: A new wave of Iranian missiles has been launched toward the occupied Palestinian territories.
Yemeni Armed Forces: The battle is the battle of the entire Ummah and for its salvation.
Yemeni Armed Forces: We cannot tolerate any US attack or aggression in support of the Israeli enemy against Iran because it means the confiscation of the freedom, independence, and dignity of our nation.
Yemeni Armed Forces: The Israeli enemy seeks complete control over the region and implements the Zionist plan with open American support.
Yemeni Armed Forces: We affirm Yemen's principled position in rejecting the Zionist aggression against our brothers in Gaza, Lebanon, Syria, and any Arab or Islamic country.
Yemeni Armed Forces: We affirm our readiness to participate in targeting US ships and warships in the Red Sea if the US attacks Iran.
Al Mayadeen's correspondent: Iranian air defenses repel Israeli attack on military site in Shiraz.
Al Mayadeen's correspondent in Iran reports the activation of air defenses over Kashan.
IRGC: Operation to transport handmade bombs foiled in Gilan, north of Iran.
Al Mayadeen's correspondent: Iranian police says dismantled "electronic bomb" in west Tehran.

Russian analog of SWIFT ready for testing on the blockchain

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Jul 2022 17:26
2 Min Read

Russia prepares to test a blockchain-based system it developed to replace SWIFT.

  • x
  • Russian analog of SWIFT ready for testing on the blockchain
    Russian analog of SWIFT ready for testing on the blockchain

Russian state-owned company Rostec announced that its alternative solution to SWIFT based on blockchain technology is now ready for testing. 

The blockchain platform, dubbed CELLS, was developed by the Novosibirsk Institute of Software Systems (NIPS), a Rostec affiliate.

Last February, Russian banks were excluded from the SWIFT interbank payment system by the decision of the European Commission and its allies. The maneuver was intended to hit the country's banking network and its access to funds via SWIFT, which is pivotal for the smooth transaction of money worldwide.

Read more: Why cutting Russia from SWIFT is bad for the west

Related News

Rosatom to evacuate Bushehr NPP at slightest threat: Rosatom Chief

Putin rules out Sumy takeover, warns Ukraine over dirty bombs usage

“The digital payment system on the blockchain platform can be used as a full-fledged replacement for SWIFT, providing high speed, security and irrevocable transactions. The system will make it possible to switch to settlements in national currencies, eliminate the risk of sanctions and ensure the independence of the national financial policy for clearing participants” - Oleg Yevtushenko, Executive Director of Rostec Group.

Hence the government organization Rostec, which brings together several local companies in the tech sector, announced last month that it was developing a system to allow international bank payments, and a pilot version was ready for testing and can now be used in banks.

This type of solution already exists, particularly in China. The country launched its international interbank payment system in 2015, called CIPS.

So far, operators from the National Technology Initiative Platform (NTI) reported that the load testing shows good performance, with the product's design speed reaching over 25,000 messages per second on one node, with the potential of leading to further growth.

Unlike the SWIFT technology, CELLS does not use classic blockchain but rather a three-tiered architecture in which a distributed register is signed and distributed in a certain way. Hence, the system is able to scale up and connect a large number of new users.

  • Russia
  • SWIFT
  • Anti-russian sanctions

Most Read

Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli air defense system fires to intercept missiles during an Iranian attack over Tel Aviv, occupied Palestine, Thursday, June 19, 2025. (AP Photo/Leo Correa)
Politics

'Israel' risks running out of Arrow 3 interceptors within weeks: WSJ

This is the Voice of America building in Washington D.C., on Monday, May 5, 2025. (AP)
Politics

Trump enforces mass VOA layoffs, 600 employees terminated

Iranian protestors carry portrait of Leader Sayyed Ali Khamenei and anti-Israeli signs during a protest to condemn Israeli attacks on multiple cities across Iran, June 20, 2025. (AP)
Politics

Israeli aggression uniting Iranians, including opposition: NYT

AP
Politics

Erdogan at OIC: No to new Sykes-Picot drawn in blood

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS