11 Jan 2018 13:25

Sberbank opens blockchain laboratory

MOSCOW. Jan 11 (Interfax) - Sberbank has opened a blockchain laboratory, the bank said in a press release.

The laboratory will research blockchain technology, create product prototypes, conduct pilot projects and present applied business solutions for the Sberbank Group.

In addition, the laboratory plans to cooperate with startups, associations and various communities and will popularize blockchains and work on educational programs in this area.

"Blockchain may substantially alter many business areas related to the financial market, to classic banking activity and our clients," Igor Bulantsev, senior vice president of Sberbank and head of Sberbank CIB, is quoted in the press release as saying.

Sberbank earlier created more than 20 different blockchain pilot projects.