Sberbank, the biggest lender in Russia, has announced the launch of a lab that will work on blockchain projects. The technology which drives bitcoin and other cryptocurrencies is known for that reason, but has many other uses.
- “Sberbank has opened a blockchain laboratory which will test cutting-edge blockchain technologies, create product prototypes and implement applied business solutions for Sberbank Group,”
- Blockchain technology was initially treated with skepticism by banks, but things have changed dramatically.
- The technology can improve the efficiency of clearing and settlement, make cross-border payments faster and cheaper, significantly cut red tape and modernize customer identification systems
- Sberbank has more than 20 blockchain-based pilot projects
https://www.rt.com/business/415576-sber ... ab-russia/