Implementation of Blockchain in Russia Will Take 10 Years

December 23, 2017

Implementation of Blockchain in Russia Will Take 10 Years

Herman Gref, Head of Sberbank believes that the blockchain implementation in Russia will take more than 8 years.

He argues that Russia has lots of projects implemented on the blockchain, but they are still in their test mode. Gref says that a lot of experiments are being carried out as the bank focuses on the blockchain technology. In 2018 some products are most likely to begin functioning in the test mode.

Nowadays the bank is carrying out about 20 blockchain projects in various industries. One of these projects is a document exchange system with the Federal Antimonopoly Service. Now this project is being implemented with Rosreestr.

Earlier, Sberbank has joined the blockchain consortium Enterprise Ethereum Alliance .

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