Sberbank has opened a blockchain laboratory which will test cutting-edge blockchain technologies, generate ideas to develop blockchain-based solutions, create product prototypes, carry out pilot projects, and implement applied business solutions for Sberbank Group.
The blockchain laboratory will interact with Sberbank’s other laboratories to create synergies of the most advanced technologies. In addition, it will offer its competencies to other market participants through cooperation with start-ups, associations, communities, and alliances. The laboratory also has the goal of popularising blockchain and providing assistance in the preparation of educational programmes in this area.
The blockchain laboratory will hire specialists who have experience in working with blockchain and cooperating with business for the purpose of creating and implementing ideas related to existing products and generating new approaches to business tasks.
“Blockchain can considerably reshape many business areas related to the financial market, as well as classic activities of the bank and our clients,” said Igor Bulantsev, Sberbank’s Senior Vice President, Head of Sberbank CIB1. “Mastering, developing, and implementing the most promising technologies is an important element of our competitiveness as a bank and an indispensable part of our future as a tech company. It is important to note that blockchain helps market participants cooperate more efficiently. Hence, Sberbank is making a contribution to the future of the banking industry and our country by launching the blockchain laboratory.”
Sberbank has created more than 20 blockchain-based pilot projects, including joint solutions with Severstal, M.video, and the Federal Antimonopoly Services, which have already been put into practice.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 21 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.