Sberbank to join Russian blockchain consortium
Sberbank is in negotiations to join the Central Bank of Russia’s blockchain consortium, plans for which were revealed during the XXV International Financial Congress in St. Petersburg earlier this year. 
According to latest reports, Sberbank, one of the largest banks in Russia, has expressed its interest in joining the blockchain consortium that is being created by the country’s central bank.



The plan to create the consortium in the country was revealed in the XXV International Financial Congress, held in St. Petersburg from June 29 to July 1, 2016 and hosted by the Central Bank of Russia. Russian payments provider QIWI, BINBANK, MDM Bank, Otkritie Bank, Tinkoff Bank and Accenture signed a mutual memorandum, expressing their intention to join the consortium.



During the event, deputy chairwoman of the Bank of Russia Olga Skorobogatova had said that the central bank has developed a system for message transmission via blockchain and is testing it along with other market players.



TASS now reports that president of Sberbank German Gref recently disclosed the bank’s intention to join the consortium. Gref told reporters:



“We are now discussing it with the Central Bank. If the Central Bank and all participants agree, then we are definitely going to take part in it. But we are in active negotiations," Sberbank CEO German Gref said as translated by Coinfox. He added, “there is no final decision on the consortium yet.”



Earlier in June, Gref revealed the bank’s plan to complete the creation of a new blockchain-based IT-platform by the end of 2018. He added that currently trials of the platform elements are being conducted and that commercial operation will begin next year.



Last December, Sberbank’s First Deputy Chairman of the Management Board, told Kommersant that the bank is closely watching the evolution of blockchain technology, while hinting at the possibility of Sberbank joining the R3 consortium.