CBRF’s XBRL Project Continues to Progress
This week a RegTech conference entitled “Blockchain and Open Platforms: APIs, XBRL and Ecosystems” was held in Moscow to examine a range of topics impacting the financial sector.
There is hot debate in Russia about the pros and cons of different blockchain protocols and the purpose and eventual impact on the banking sector of Open APIs.
But there seems to be wide agreement that the CBRF’s (the Central Bank of the Russian Federation) introduction of XBRL based reporting over the next three years, will improve the credibility and reliability of the information prepared by financial institutions. There will be more on this topic before long, but you can find out about this week’s conference here (article in Russian).
