Two prominent Russian officials, former Minister of Finance Alexei Kudrin and head of Sberbank Herman Gref, believe that the blockchain technology has the potential to revolutionise governance system.

During an official business lunch at Sberbank, Gref noted that the blockchain technology is able to make taxation system “personalised”, helping tax-payers track their money and see where exactly it goes. Kudrin shared his view, saying that governance can become more transparent thanks to distributed ledger.

“I dream… that one day when a politician makes a promise, everyone can see on their screens whether the promise correlates with available resources and possible scenarios…”

Kudrin stated that blockchain would force policymakers to play by the rules. Gref, in turn, believes that the change in technology should go in line with “change of mind”

Ex-Minister of Finance explained the ways blockchain can solve complex bureaucratic problems, adding: “Undoubtedly, this is a revolution.” He also expressed his regret at the government’s reluctance to introduce the innovation faster.

According to Hermann Gref, blockchain is more secure than state proprietary rights’ registration systems:“Transaction is done when the payment is received; proprietary rights… are passed from one person to another, and it is registered by thousands of computers so that no one can cancel it later.”

“Transaction is done when the payment is received; proprietary rights… are passed from one person to another, and it is registered by thousands of computers so that no one can cancel it later.”Earlier Sberbank announced it may join

Earlier Sberbank announced it may join international R3 consortium in the near future.





Maria Rudina