Brief results of the collaboration:
National Settlement Depository (NSD) is a central securities depository of the Russian Federation. The company is the largest securities depository by market value of equity and debt securities held in custody. NSD is part of the Moscow Exchange Group (MOEX)—the major exchange organization operating trading markets in Russia.
The customer wanted to develop a blockchain-powered prototype platform for issuing bonds of one of the largest mobile network operators in Russia. The solution was to connect three parties: NSD (the depository), MegaFon (the bond issuer), and Raiffeisenbank Russia (the investor). The aim behind the project was to automate bond placement and accounting with blockchain, while minimizing risks of reconciliation and ensuring transparency. Hyperledger Fabric was chosen for its support of confidential transactions and resilience in the production environment. Furthermore, both MOEX and Altoros are members of the Hyperledger Foundation since 2016.
Under the project, the team at Altoros had to address the following issues:
As there are no ready-made solutions for Hyperledger Fabric to use as a REST interface, developers at Altoros delivered a Node.js-based API to simplify web apps integration with blockchain peers. As the REST API can be implemented as part of other projects, it was open-sourced.
Using Docker Compose, experts at Altoros significantly reduced the complexity of the blockchain network setup in members’ data centers, while ensuring secure cross-datacenter communication.
With Node.js, our engineers also developed a clustered back-end component that orchestrates smart contracts in separate blockchain channels, thus, enabling the confidentiality of transactions.
To ensure security, developers at Altoros relied on the Hyperledger Fabric’s cryptolayer, which supports secure, verifiable multi-party transactions via tokenization, digital identity, and digital signatures.
Finally, our team provided integration with the third-party service, which validates the solution’s compliance with government regulations.
Partnering with Altoros, the customer developed a blockchain-based solution that automated the issuing of bonds worth $10M. Compliant with government regulations, the platform ensures transparency across bond placement, enables the confidentiality of transactions, as well as maintains secure cross-datacenter communication. Minimizing fraud in a secure trusted network, the system also reduced expenses of the bond issuer. Thanks to Hyperledger Fabric, the prototype was delivered in just 6 weeks.
Linux, Ubuntu, CentOS, Red Hat Enterprise Linux
Hyperledger Fabric, Docker Compose, AngularJS, Node.js, WebSockets