December 3, 2021

German Gref: Cryptocurrencies are a by-product of technology development …

German Gref: Cryptocurrencies are a byproduct of blockchain technology development

The head of Sberbank, German Gref, on the sidelines of the Astana Finance Days forum, held from July 3 to 5 in the capital of Kazakhstan, told reporters that he opposes restrictions on the development of new technologies, including such an important technology as blockchain..

“You know, I have always advocated trying in no way to limit the development of new technologies, in particular, blockchain technology. Because cryptocurrencies are a byproduct of the development of a critical blockchain technology, “RIA Novosti quoted him as saying..

In April, Gref spoke critically about cryptocurrencies, calling them “a hype and overvalued technology”.

Herman Gref: Cryptocurrencies are a by-product of the development of blockchain technology Head of Sberbank Herman Gref ...

Herman Gref: Cryptocurrencies are a by-product of the development of blockchain technology Head of Sberbank Herman Gref ...

“But we see that the maturity of blockchain technology is not yet sufficient to rank it among those technologies that today can already change our lives,” he said then.

Meanwhile, Sberbank is taking part in various blockchain-related projects. So, last December it became known that the bank, together with the Federal Antimonopoly Service of the Russian Federation, completed tests of the document exchange system based on the blockchain and switched to its pilot operation, and two months earlier, M.Video, Alfa-Bank and Sberbank created a blockchain -consortium.

Herman Gref: Cryptocurrencies are a by-product of the development of blockchain technology Head of Sberbank Herman Gref ...

In January of this year, the bank announced its intention to start working with cryptocurrencies through the Swiss division, and in May – about plans to test the technology of the initial coin offering (ICO) on the regulatory platform of the Bank of Russia together with the National Settlement Depository..

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