Herman Gref, president of the Russian bank Sberbank, stated in an interview that it envisages a complete implementation of blockchain in the next 8 years, however it indicates that by the 2018 the first commercial development of blockchain in Russia could occur.
Almost a decade is Gref's estimate for a real adoption of blockchain technology in Russia's financial and organizational system. According to its optics, blockchain is not in a mature enough stage to be adopted commercially. Despite this, it does not rule out starting testing and presenting "large-scale" products, according to the government press agency TASS.
If we talk about Russia, we have as many projects implemented on blockchain. Although they're all in experimental mode. We're experiencing a lot. Maybe in 2018 we can present some products on a large scale. Blockchain technology is one of our tricks. I estimate the horizon of technology implementation in 8-10 years.
Herman Gref
President, Sberbank
However, throughout the 2017 the company represented by Gref has been conducting different tests and experiments with the Ethereum platform, as they are part of the Ethereum Enterprise Alliance, a conglomerate dedicated to exploring the commercial benefits that can bring the blockchain based on the code developed by Vitalik Buterin. At least 15 tests have been carried out in this regard, said Herman Gref.
So far we have implemented 15 different projects, but they are still experimental in nature. The technology is not yet ready for commercial implementation, it will take another year, maybe a year and a half or two, so we can start using it.
Herman Gref
President, Sberbank
It is important to remember that Sberbank (Savings Bank of the Russian Federation) is Russia's largest banking and was the first bank to join this blockchain conglomerate. According to Lev Khasis, first vice-president of the Board of Directors of Sberbank, the developments and initiatives in which the Bank can participate collaborate with the objectives of the technological agenda of Russia.
This is a test of Russian openness to blockchain technology, a positive attitude that is not replicated in the case of digital currencies that still lack regulatory framework and the bitcoiners are faced with the possibility of not being able to undermine any Criptomoneda Decentralized in Russia's territory, even though Putin ordered the design of a cryptorublo.
We will have to wait until 2018 to know what the "large scale" tests of the Sberbank are and especially if it will be necessary 10 years to achieve the complete and functional implementation of the blockchain technology.
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