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Sberbank will use the possibilities of the blockchain, but not Bitcoin

Sberbank intends to join the international consortium R3, in order to study and use the blockchain technology together with Goldman Sachs, JP Morgan, Credit Suisse and Barclays. The consortium, founded in 2014, already includes 30 large financial organizations and banks, but there are still no Russian-speaking representatives in it. The most famous blockchain implementation is Bitcoin, but Sberbank does not plan to use virtual money themselves. The blockchain will be used to protect bank transactions and, in the future, may reduce its dependence on the international SWIFT system.



Lev Khasis, first deputy chairman of Sberbank, told reporters that bank representatives are actively interacting with consortium members and are watching the evolution of the blockchain. Khasis suggested that the bank would like to join this consortium, but noted that the final decision had not yet been made. According to him, as soon as technological solutions for banks based on the blockchain are developed, Sberbank will actively introduce them into its own workflow. The deputy chairman of the board of Sberbank believes that his bank will be one of the first to use the blockchain capabilities in practice.

Earlier, at the end of September, 13 leading international banks joined the consortium , whose goal is to develop common rules and standards for working with blockchain technology. Now the consortium includes 22 largest banks from Germany, USA, Switzerland, Great Britain, France, Japan, Australia, Canada, Spain, Sweden.
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Khasis stressed that although the blockchain is the basis for the operation of Bitcoin, Sberbank has no plans to issue its own cryptocurrency. Apparently, this comment is a reference to the September statement by members of the board of Qiwi, who reported on their ambitious plans to release their own cryptocurrency, bitruble. Qiwi plans have resonated in the professional community. Financial Ombudsman Pavel Medvedev called the release of the Russian cryptocurrency “a crime”. Chairman of the Board of Sberbank German Gref then spoke out against the ban on cryptocurrency, and the head of the Central Bank Elvira Nabiullina clarified that the bank prohibits only monetary substitutes, such as Bitcoin, but not the underlying technology.

Sberbank is counting on the possibility of using the blockchain for internal settlements, conducting transactions between subsidiaries and other banks. “This is just another way of calculation: simpler, faster and more reliable,” says Lev Khasis.

The Russian Ministry of Finance, while continuing to insist on the prohibition of cryptocurrency, also speaks positively about the blockchain technology and calls for a careful study of it.

However, we are not Sberbank, and we have no reason to hesitate, but we can already today take advantage of the amazing features of the blockchain and start mining with us :-)

Source: https://habr.com/ru/post/367291/


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