Russian Bank Sberbank Joins Open Source Blockchain Hyperledger Project

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Sberbank and the Linux Foundation have entered into an agreement on the bank’s participation in the Hyperledger Project.

According to reports from Sibos, Lev Khasis, first deputy chairman of the executive board of Sberbank,  said the new development with Hyperledger, and its open source platform based on Blockchain, offered “access to international expertise and cutting-edge Blockchain developments”.

In an interview he told Daily News at Sibos that the bank will not use Blockchain for just one item and sees many opportunities for the technology within finetch and outside of fintech (such as real estate). He expects in the next 12 months that one use case will go live.

Sberbank will have a “dedicated team” of developers working with Hyperledger. The bank has 9000 developers in total, but not all of these will be working on Blockchain.

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Founder of Blockchain News and The Hackitarians Foundation, Richard Kastelein is an award winning publisher and editor, hackathon organiser and entrepreneur. He has written over 700 articles at Blockchain News, has a massive network in the Blockchain arena and is available as a speaker and consultant. (richard@the-blockchain.com) Kastelein has spoken (keynotes & panels) on technology at events in Amsterdam, Barcelona, Belfast, Berlin, Brussels, Brighton, Copenhagen, Cannes, Cologne, Curacao, Frankfurt, Gdansk, Hollywood, Hilversum, Geneva, Groningen, London, Las Vegas, Leipzig, Madrid, Melbourne, NYC, Oxford, Rio de Janeiro, Sheffield, San Francisco, San Jose, Sydney, Tallinn, Vienna, and Zurich. A Creative Technologist & Canadian (Dutch/Irish/English/Métis) his career began in the Native Press (Canadian Arctic) and he later spent a decade in the Caribbean media. Currently, he writes occasionally for Wired Insights, Guardian & Virgin and his articles have been translated into Dutch, Greek, Polish, German & French.