MINSK, 18 October (BelTA) – Payments using cryptocurrency are not under consideration in Belarus, Chairman of the NBRB Board Pavel Kallaur said at the opening of the 14th international forum on banking information technologies BankIT'2017, BelTA has learned.
“The matter related to cryptocurrency payments for goods and services in Belarus is not under consideration for now,” Pavel Kallaur said. He noted, however, that other issues regarding the legal regulation of the use of cryptocurrency by financial institutes, companies and population in Belarus is currently at the stage of development.
The chairman of the board of the National Bank also talked about the use of the block chain technology in the banking system. “The use of the block chain technology has become a reality for the Belarusian banking system. It helps rationalize and make safer the operations on forming and using information registers. This benefits both the clients (thanks to simplifying procedures) and banks (due to reduced operating expenses). The first practical use of the block chain technology in the Belarusian banking system is an opportunity to transfer data on the issued banking guarantee,” he said.
Pavel Kallaur said that there are plans to introduce a block chain technology at the stock market to form a register of operations with securities. “Thus, the banking system starts exporting technological innovations to other markets and economic sectors,” he said.
The 14th international forum on banking information technologies BankIT'2017 is taking place in Minsk on 18-20 October. The forum has gathered more than 1,500 heads and experts in the financial, IT and management sector from more than ten countries. The program of the forum will include 14 breakout sessions, including discussions featuring more than 60 speakers. A major block of themes comprises modern requirements to IT banking platforms, data management, digital cooperation with clients and the use of the block chain technology in the banking sector.
BankIT is the only specialized event in Eastern Europe that unites the top management of banks, IT companies and other business sectors, and also representatives of state stakeholders and experts in IT development. Since 2004 forum participants have been successfully cooperating in addressing top priority tasks, using efficiently the opportunities provided by the forum organizers. In 2011 the event was visited by more than 820 managers and experts in the financial, IT and management sectors. The number of participants exceeded 1,400 in 2016.