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The Central Bank of Russia’s (CBR) first deputy governor has said that blockchain technology is not the “universal solution,” many promised it would be five years ago. In an interview with Euromoney on April 2, Olga Skorobogatova took a deep dive into the bank’s initiatives, sandboxes, and experiences with blockchain deployment. Following three years of experimenting with the Masterchain platform — a local blockchain-based network for transferring valuable financial data like mortgage accounting — Skorobogatova said, “Blockchain is a great fit for things like letters of credit and guarantees because it is essentially a technology of trust.”However, she further added that blockchain is not the cure-all that many believed it would be:“I remember being…


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