The Masterchain blockchain platform is a future national network for storing and transmitting financial information in a decentralized form. The Ethereum protocol is used as its basis. Private information of citizens or information that constitutes a commercial secret is not stored inside the MasterChain. The advantage of this system is that there is no single point of failure and there are no middlemen involved. Smart contracts are supported, plus the MasterChain system has the ability to scale to increase transaction throughput.

The implementation of Masterchain will reduce costs in government administration and prevent economic crimes and fraud. By mid-2018, Sberbank will implement this system for accounting for mortgages. Otkritie and VTB banks also showed interest in the project.

Source: forklog.com