The head of Sberbank considers the wider-scale Blockchain Adoption in Russia could take at least a decade.

As Quoted by state-owned news agency TASS, Herman Gref, Sberbank’s chairman of the board, suggested on Thursday (21st Dec 2017) that the establishment can roll out products depending on the technology as early as next year.

However, the broader Blockchain Adoption could take considerably more than this, as stated by the Sberbank chief.

Gref stated that:

If we speak About Russia, we’ve got the largest number of employed projects regarding blockchain. Although, they’re all in the experimental mode. We’re experimenting a lot. Maybe in 2018, we are going to have the ability to present some goods on a big scale. The blockchain tech is just one of our suggestions. I estimate the execution horizon of this tech in 8 to 10 years.

In the interview, Gref especially noted that commercial usage of this ethereum blockchain could start playing from another couple of years. Sberbank became a part of the Enterprise Ethereum Alliance back in October.

He commented the technology isn’t yet ready for commercial implementation it takes another year perhaps a year and a half or even two before we begin using it.

Before this season, Gref said that the usage of blockchain by banks might be only “two to three years away.” At the moment, he noted that Sberbank is functioning on its blockchain software.


Author's Bio: 

Ricky Makan is a venture capitalist and Crypto Enthusiast best known for pioneering the market for Digital Marketing. He is a Co-founder of Unkrypted, a platform which provides the latest news and information that helps understand everything about the ever-evolving world of digital currencies. He is been fascinated by Blockchain technology since the first time he heard about it in 2013