Russia’s Sberbank CEO Affirms Mainstream Industrial-Scale Blockchain Use Cases is Still 12-24 Months Out
Russia’s Sberbank CEO: Industrial Blockchain Adoption Is Just One Or Two Years Away From Now
If you root for the adoption of the blockchain technology in the future, we got great news for you. The head of the major Russian state-owned bank Sberbank has recently forecasted that the blockchain technology will finally be adopted on an industrial scale in one to two years from now.
The information was recently published by Russian journalists after the CEO of Sberbank, Herman Gref, has explained to them in a conference that the technology is finally entering the stage of its industrial development.
According to the CEO, the hype around the technology is now over, so the blockchain is now finally entering the state in which the industrial development is really starting and it will be able to get implemented in a real industrial scale in only two years at most.
However, the CEO of Sberbank has also affirmed that the global markets are still not yet ready for a large-scale commercial adoption of the blockchain technology that the technology is, unfortunately, very immature.
Current Forecast Is Better Than The Previous One
Early in October, Gref believed that the blockchain would be finally ready for being used in an industrial scale between three to five years, but for whatever reason, it looks like he changed his mind now and believes that it take a lot less time to do it properly.
Right now, Sberbank is currently involved in many blockchain trials along with other important Russian banks and major institutions. In fact, it has partnered with Russia’s Federal Antimonopoly Service to develop technology to store documents and transfer data on the blockchain.
Another partnership was with the Alfa Bank in order to test a new crypto-based investment option for retail investors in the country. More recently, in October 2018, the bank has started a partnership with Rosseti, another state-owned company in Russia to help in the trial of blockchain solutions.