In the Russian Federation has proposed to incorporate the blockchain into a system of individual pension capital

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Association of private pension funds (ANPF) has proposed to incorporate the blockchain into a system of individual pension capital (PKI). The letter of offer sent to the Pension Fund of Russia (PFR), writes the newspaper “Izvestia”.

The document says that the blockchain will transparently administer the pension account. The technology also will help to control the process of change Russian non-state Fund and thereby to avoid losses of investment income with an early change of the organization.

We will note, according to the Central Bank of the Russian Federation, in 2017 due to the early transition from the PFR to NPF, almost 3 million Russians have lost 33 billion.

At the request of the edition, representatives of the FIU stated that they are familiar with the initiative, but declined to comment.

Developed by the Ministry of Finance and the Central Bank the concept of PKI assumes that the Russians will be working to contribute from 1% to 6% of their salary to the pension. According to TASS, the government hopes to introduce a bill about the PKI closer to the end of 2018.

ForkLog previously reported that the FIU plans to implement smart contracts to track information on contracts of employment between employers and employees.

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