12/22/2017, 6:33 PM (Source: TeleTrader)
more TeleTrader news

Sberbank: Russia to implement blockchain in 10 years

Russian state-owned banking giant Sberbank's CEO Herman Gref stated on Friday that, in his opinion, the country will be ready to implement the Bitcoin technology in full only in eight to ten years from now, TASS reported. The bank's chief added that Russia is a global pioneer in developing blockchain technology and the first country by the number of blockchain projects.

"If we talk about Russia, we have the largest number of implemented projects concerning blockchain. Although, they are all in the experimental mode. We are experimenting a lot. Maybe in 2018 we will be able to introduce some products on a large scale," said Gref. He added: "The blockchain technology is one of our tricks. I estimate the implementation horizon of the technology in 8-10 years."

Earlier, Sberbank joined the research of blockchain through an Ethereum platform by becoming a member of the Enterprise Ethereum Alliance. The bank is the first Russian financier to join the organization. The alliance was formed in early 2017 and it includes members like CME Group, JPMorgan, UBS and many others.

Breaking the News / VK