Russia’s Biggest Bank to Open Blockchain Lab

Russia’s biggest bank, by vola ume of assets, Sberbank has started running a blockchain laboratory. They would like to create and analyze blockchain networks. The laboratory will help Sberbank with business solutions. Other startups and companies will be able to work with and utilize these blockchain technologies. Specialists have been hired on teams to work on blockchain solutions, for the lab. The financial and corporate sectors in Russia will really benefit from this. The laboratory will run tests on blockchain solutions, product prototypes, facilitation of projects, and customized business solutions for Sberbank. Sberbank already has 20 blockchain assignments on their plate. A major project they are working on, is working with the federal government to encrypt exchanges of documents and archives. Sberbank is apart of two of the largest open-source blockchain conglomerates. The bank joined the Hyperledger Blockchain Project about two years ago. They also joined the Enterprise Ethereum Alliance and are apart of Masterchain, to test interbank transactions.

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