REST – Raiffeisen Euro-backed Stable Token

What is it? 

RBI Internal Token is an in-house tokenization exercise in RBI Group. It aims at making the technology visible and tangible, offering the participating users a hands-on experience with this new concept. 


Why do we do it? 

The project will generate a know-how with respect to organizing fiat-to-token exchange which can be scaled up to other assets and projects. This PoC will deliver valuable insights in the setup of blockchain based projects and it will be a very hands-on product to show and explain the functionality and the advantages of tokenization. 


Who is participating? 

Together with SV as a service partner of RBI´s canteen and HotelData as the hardware and software provider of SV a proof of concept to tokenize the payment procedure for approximately 50 testing persons.  


With the help of a Webapp solution provided by 0BS network the test person can run through an initial registration process to establish its personal wallet. With the wallet the following functionalities will be covered: 

  • Payment at the canteen through taking a picture of a QR code and confirming the transaction 
  • Uploading of tokens into the wallet 
  • Withdrawal of tokens from the wallet and receive cash back on the private account 
  • Send & receive tokens among testing persons 
  • Basic reporting on token payment history 

 The running phase of the experiment will last for 2 months. After the experiment phase a real implementation of the solution for all employees of the RBI group has to be evaluated. 

What is the underlying technology of the pilot?

  • REST token itself, issued on the 0bsnetwork open blockchain platform, deployed by the Viennese company Blockstruct GmbH in 2019. 0bsnetwork is a third generation blockchain platform built with cutting edge technology and based on the Next Generation Proof of Stake consensus algorithm created at Cornell University. It boasts significantly improved processing speed and thousands of times lower electricity consumption than previous generations of blockchain technology, such as Bitcoin or Ethereum. With business-focused features like Data Transactions, KYC and qualified electronic signature infrastructure, easy IoT integration and similar, 0bsnetwork is a unique platform for real world applications of the technology. Find out more at
  • REST Wallet App as the primary user interface, created by Blockstruct as a mobile web app using React Native JavaScript framework, provides the integration of the REST token blockchain account and Euro bank account operated by Raiffeisen Bank International, as well as the users’ identity stored on a Microsoft Azure Germany cloud server, in full compliance with GDPR and other relevant Austrian and EU regulation.
  • Point Of Sale interface, for payments of goods using REST token. This is the connector between the REST blockchain token, RBI Euro account and SV cash register solution developed by Hotel Data in cooperation with Blockstruct.
  • Back end systems for conversion of Euros into REST tokens and vice versa, making sure that each REST token is always backed by 1 Euro. That is what makes REST token a “stable token” as opposed to extremely volatile cryptocurrencies. REST System interacts with RBI banking infrastructure using the EBICS interface and during the implementation of this project Blockstruct even developed and submitted to the EBICS governing body an efficiency improvement to the EBICS protocol which was adopted into the official specification.
  • Dedicated web-based Administrative interface for RBI Blockchain Hub staff, who have a full view of the overall state and changes in the system: Euro top-ups and withdrawals, REST token transfers, user registration, activation and deactivation etc.

Der Brutkasten - Interview with RBI and Blockstruct