Latest reports suggest that Russian developers have created several pilot projects using blockchain technology for biometric identification of users of banking services. These projects were discussed earlier this month in Moscow at a meeting of the "Internet + Finance" subgroup, Forklog reported.

The meeting was attended by the Deputy Head of the President of the Russian Federation on application of information technology and development of electronic democracy Paul Pugachev, Head of the "Internet + Finance" subgroup Andrei Romanenko, Director of e-Government Development Department Ministry of Communications Vladimir Auerbach, along with representatives of the Central Bank of the Russian Federation, the Federal Tax Service, the Ministry of Finance and others.

One of the submitted blockchain projects was associated with the exchange of client identities between organizations. Peter Darakhvelidze, the Business Development Director for WebMoney Transfer, was appointed as the leader of the project.

The second project, the head of which was appointed CEO VisionLabs Alexander Khanin, focused on remote user identification using biometric data.

At the next meeting, these two managers are required to submit reports on the principles and objectives of each of the pilot projects to team members of “Internet  + finance" so that the subgroup could choose the best option.

Andrei Romanenko explained that the pilot projects relating to the identification, will be implemented with the participation of Federal Financial Monitoring Service, the Ministry of Finance, the Bank of Russia and the Ministry of Communications, Rambler News Service reported. 

"The efficiency and compliance with the regulatory framework in the financial sector – [is] a very important and difficult task," said Romanenko [Google translated].

The news follows recent reports that the Central Bank of Russia is considering to give banks the right to use blockchain technology to store information about all of their transactions. The central bank announced in February that it has established a Working Group on the analysis of advanced technologies and innovations in the financial market, with focus on the study of distributed technologies such as blockchain, and other payment technologies.