Blockchain and outsourcing for specialised banking communities

Abstract

This article explores the potential benefits of implementing blockchain technology and outsourcing contracts in the new market participants called specialised banking communities, formed as part of the banking sector reform in Russia. The authors compare this experience to the European model of banks' unions in institutional protection schemes (IPS), highlighting similarities and differences. They emphasize the objective properties of banking communities as subjects of production cooperation in the financial sector. The article also discusses the parameters for implementing a private blockchain network, specifically focusing on the priorities of PoS (Proof of Stake) and DPoS (Delegated Proof of Stake) consensus algorithms. To optimize operational resources, the authors recommend the use of outsourcing contracts for the better distribution of digital production capacities within these communities. Overall, this article highlights the potential of blockchain technology and outsourcing contracts in improving the efficiency and effectiveness of specialised banking communities in Russia.