Sberbank, Russia's largest bank, has recently established a blockchain laboratory aimed at researching, testing, and guiding the development of blockchain-based projects. The lab is set to collaborate with startups, industry associations, communities, and alliances, with a primary focus on creating practical solutions that can support the growing Sberbank Group. This initiative is expected to boost the bank’s blockchain expertise and drive innovation in the field.
The lab will recruit experienced blockchain professionals who have worked on implementing solutions for financial and enterprise products. Once the team is fully assembled and operational, the lab will begin exploring advanced blockchain solutions, generating creative ideas, and working on product prototypes, pilot programs, and real-world implementations tailored for the Sberbank Group.
Igor Bulantsev, Sberbank’s Senior Vice President, emphasized that blockchain technology has the potential to revolutionize various aspects of financial markets and the way banks interact with their customers. Moreover, he highlighted that blockchain can enhance collaboration among market participants, making business processes more efficient and transparent.
According to Sberbank, the company has already launched over 20 blockchain pilot projects, including secure data exchanges with federal agencies. Sberbank’s CEO, Herman Gref, has long been an advocate for Bitcoin and believes that the widespread adoption of blockchain in Russian businesses could take place by 2019.
In addition, Sberbank is one of the world's leading open-source blockchain alliances. In 2016, it joined the Hyperledger Project, a cross-industry initiative led by R3, and became a member. Then, in 2017, the bank joined the Enterprise Ethereum Alliance (EEA), which focuses on developing enterprise-grade solutions using Ethereum technology. Sberbank was the first Russian financial institution to join this alliance, further solidifying its position as a key player in the global blockchain ecosystem.
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