Sberbank of Russia launched the Blockchain Lab

Sberbank, one of the largest banks in Russia, announced the launch of a laboratory to develop and test solutions based on blockbuster.

The new laboratory is aimed at creating prototypes of products, conducting trial tests and deploying business solutions based on the blockbuster for Sberbank. According to Igor Bulantsev, senior vice president of Sberbank, the blocking company can help in the "restructuring" of the financial services market, and also have a positive impact on the activities and services provided by the bank.

Bulantsev said:

"It is important to note that the block business helps market participants to cooperate more effectively, therefore, Sberbank contributes to the future of the banking industry and our country by launching a block laboratory."

The project will work on the development of advanced technologies in conjunction with other laboratories of the bank, as well as representatives of the bank's statement that they plan to establish cooperation with start-ups and other existing alliances.

The laboratory of Sberbank will bring together specialists who already have experience in creating and implementing blockbuster ideas for existing products, as well as creating new approaches to business activities.

The launch took place a month after the CEO of Sberbank German Gref said that the larger implementation of the blockade in Russia could take up to ten years. At that time, he noted that Russia was "experimenting a lot" with the blockade. Gref also said earlier that this year the bank will present some products on a "large scale".

In February last year, Gref predicted that the use of distributed register technology by banks and other operators could be realized within two and a half years.

Sberbank has already launched a number of initiatives in the framework of the creation of the block-ecosystem. Sberbank recently joined the Enterprise Ethereum Alliance, a consortium focused on the integration of technological innovations for enterprises. Some of the test projects based on the blockbuster bank include joint solutions with Severstal and the Federal Antimonopoly Service.