The State Bank of Russia is exploring the market of Crypto-Currency and ICO

Sberbank of Russia is exploring the market of crypto-currencies, and is also negotiating with state bodies about the spread of technology technology. This was stated by the senior vice-president of the Savings Bank, the head of Sberbank CIB Igor Bulantsev, reports RNS.

"The potential for using the technology is enormous: these are the issues of systematization and integration of the KYC process, and insurance and maintenance of the register of collateral, escrow accounts, bank guarantees, maintenance of electronic documents circulation, keeping a register of securities, bills, credit history and real estate transactions and so on. Further ", - said Bulantsev.

According to him, at the moment negotiations are being held with all interested parties, including state bodies, about the possibility of further spreading of the technology.

"In addition, we are exploring the market of crypto-currencies and the now emerging ICO market. Our goal is to have a highly professional expertise in all these areas ", - said Bulantsev.

He explained that the use of blocking technology in the banking sector will reduce the time for operations, as well as increase their efficiency and transparency.