Russia’s Alfa-Bank offers blockchain platform for freelancers

Alfa-Bank, one of the largest private commercial banks in Russia, is exploring blockchain technology in its services for freelancers. Based on Waves Enterprise’s blockchain platform, Alfa-Bank’s new service covers the entire process of registration and remuneration for self-employed individuals, including payments settlement, income registration and tax payments.

Denis Dodon, director of Alfa-Bank’s research and development center, told Cointelegraph that the new blockchain-based service enables freelancers to get direct remuneration via any bank: The new service comprises two applications including the enterprise-focused “Alfa.Corporate” and “My Income” platform for individuals. Kuzmichev noted that Waves Enterprise is acting as a primary tool for the bank’s so-called "Bank-as-a-Service" approach: Kuzmichev said that the new service’s target audience includes self-employed workers such as taxi drivers, cleaning and repair services, tutors, and others.

Timeline of Waves