By Andrei Skvarsky.
Sberbank, Russia’s biggest lender, is researching blockchain technology but still does not use it in practice, CEO Herman Gref said this week.
It will be one to two years before Sberbank embarks on the regular use of blockchain in its operations, Gref told a news conference in Moscow, describing blockchain as an “immature” technology.
“We haven’t yet put blockchain solutions to industrial-type use. Moreover, I can see that we are not yet ready for this, there’s a large amount of technological problems caused by the immaturity of this technology,” he said.
However, Sberbank makes extensive use of other digital technologies and owes a huge share of its profits to them, according to Gref.
Gref complained, however, that technologically Sberbank is quite a long way behind larger fintech companies.
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