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5 July

The head of Russian leading bank - Sberbank (MICEX: SBER), Herman Gref urged not to hinder the success of blockchain. He expressed his opinion on the development of the distributed ledger technology on the sidelines of the Astana Finance Days forum.

Why it is important

  1. According to many experts, blockchain technology can greatly optimize the costs of business and the state. It particularly helps to make online payments, quickly confirm the customer relevance or transaction data, register transactions and maintain their registry.
  2. Recently, both international and Russian companies started to rapidly implement blockchain in their processes. For example, banks use the technology to speed up international transactions while retail representatives - to simplify logistics processes and increase the transparency of payments.

"You know, I always advocated for the development of new technologies without limiting them, blockchain technology included. And that’s because cryptocurrencies are the byproduct of the blockchain technology development, which is critically important ", - said Gref, as quoted by RIA Novosti.

Earlier in January, Sberbank has launched its own blockchain-lab. It conducts the research and develops various platforms to develop blockchain-based solutions and create product prototypes. It also conducts pilot projects and implements applied business solutions for the Sberbank Group.

By Nadya Astam

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