Russia’s biggest bank partners with a government service to manage documents via Blockchain.
Russia has officially completed its first government-level Blockchain implementation. The state-run bank Sberbank announced today that it is partnering with Russia’s Federal Antimonopoly Service (FAS) to implement document transfer and storage via Blockchain.
According to local sources, the move represents the first case of direct government implementation of Blockchain technology.
On the wider implications of the decision, Andrey Tsarikovskiy, the statе secretary and deputy head of FAS, stated in the Sberbank press release:
“Our country is opening up new possibilities for the economy through the use of advanced knowledge and technology. Making the system launch a reality means we are not only one of the first actual users of Blockchain for government in the world, but also [are pioneering its use]as a practical tool for further growth.”
The Russian government has shown consistent interest in advancing Blockchain technology development in the country for several years. In June of this year, President Vladimir Putin met with Ethereum’s Vitalik Buterin. In August the state-owned bank VEB signed an agreement with the Ethereum Foundation to develop Blockchain education programs in the country.
In contrast, the government’s official position on cryptocurrency use for regular citizens remains relatively strict.
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Author: William Suberg