Russia seems to be interested more and more in the cryptocurrency system. They are preparing to launch their own digital coin and to create a regulation that will encourage users to involve in crypto activities.

The largest bank in Russia, called Sberbank announced on 11 January, 2018 about the opening of a blockchain laboratory. This assumes to test and innovate blockchain technologies. Bank’s plans include the partnerships with public financial institutions, communities and even individual users.

Sberbank has prepared a team of professionals, and a new blockchain specialist will be part of it soon. These were selected according to their experience, regarding the implementation of financial solutions skills.

What is the purpose of Sberbank?

The laboratory was created to test the product prototypes and blockchain strategies. It will generate ideas for new projects. The laboratory is like the right hand of Sberbank. One creates and another institution implements.

Sberbank’s Vice President- Igor Bulantsev mentioned in an official Press Release that “Blockchain can considerably reshape many business areas related to the financial market, as well as classic activities of the bank and our clients. It is important to note that blockchain helps market participants cooperate more efficiently”.

Sberbank also mentioned that they have already designed “more than 20 blockchain-based pilot projects”.

This isn’t their first involvement in such operations. The bank is already a member of Enterprise Ethereum Alliance (EEA) since 2017. It is the first financial institution in Russia that has huge plans including blockchain developing. EEA aims to test Ethereum projects and share the best strategies with their members.

Sbersbank is preparing to implement the best solutions starting with 2019. This is, perhaps, the most spectacular news for Russia this year as well as for important crypto-countries.

We guess the project will change the basic ideas about the blockchain technology.