Sberbank, Russia's leading 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, and community groups, with a primary focus on creating practical solutions that can support the expanding Sberbank Group. This initiative is expected to boost the bank’s blockchain awareness and technological advancement.
The laboratory plans to recruit experienced blockchain professionals who have previously 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, encouraging innovative thinking, and working on product prototypes, pilot programs, and real-world applications for the Sberbank Group.
Igor Bulantsev, Sberbank's senior vice president, emphasized that blockchain technology has the potential to transform various aspects of financial markets and improve interactions between banks and their customers. He also highlighted that blockchain can enhance collaboration among market participants, making processes more efficient and transparent.
According to Sberbank, the bank has already launched over 20 blockchain pilot projects, including a secure file exchange system with federal agencies. Sberbank CEO Herman Gref has long been an advocate for Bitcoin and believes that the application of blockchain technology in Russian business operations could be realized by 2019.
In addition, Sberbank is one of the two largest open-source blockchain alliances globally. In 2016, it joined the "Hyperledger Blockchain Project," led by R3, and became a member. The following year, in 2017, Sberbank also joined the Enterprise Ethereum Alliance (EEA), which focuses on developing enterprise-grade solutions using Ethereum technology. It was the first Russian financial institution to become part of this alliance, marking a significant step in its blockchain journey.
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