Sberbank is preparing a legislative initiative for the regulation of the blockchain

“Sberbank” together with the group of experts is preparing a legislative initiative to regulate the blockchain. About it reports a press-service of the Bank.

“The Bank, together with the group of experts had already begun to prepare relevant legislative initiatives,” — said senior Vice-President of “Sberbank”, head of Sberbank CIB Igor Bulantsev. — If we want to integrate new technology to work with state corporations, it needs to foresee the possible consequences in case of failure of the parties to fulfill the obligations evidenced by the blockchain”.

The technology of the blockchain found the most striking applications in the field cryptoeconomy. In the world there are thousands of startups, which sets the goal to radically change the existing economic system and to move from a centralized model to a decentralized. But the results have not influenced the introduction of the blockchain in other areas. According to Igor Bulantsev, there are restrictions on the legislative framework. Participants must be confident in the legitimacy of the agreements reached with the blockchain technology.

Igor Bulantsev drew the attention of participants to the fact that today Sberbank is no longer just a Bank, being, in fact, the locomotive of the implementation of innovative technologies in Russia. Sberbank is actively developing expertise in artificial intelligence technology, Big Data, robotics, cloud services. The Bank considers more than 20 project proposals in the field of blockchain. Part piloted within the Bank, a portion is studied together with a number of major clients. The developed technological solutions will allow to solve problems in different areas, ranging from financial products, optimize workflow, ending with safety and labor relations.

Sberbank is preparing a legislative initiative for the regulation of the blockchain 09.09.2017

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