“SBERBANK” AND FAS STARTED EXCHANGING DOCUMENTS USING BLOCKCHAIN

A joint project of “Sberbank” and the Federal Antimonopoly Service – “Digital cooperation of FAS with banks and economic entities on the basis of the blockchain technology” reached the stage of pilot production.

Earlier, a pilot project of FAS with “Sberbank”, “Aeroflot”, “Russian Coal”, “ForteInvest” and some other companies studied possibilities of distributed storage of documents for the purposes of increasing the speed, reliability and quality of cooperation. Based on the results of the pilot project, the requirements for implementing the system and its further development were coordinated.

At the current stage - pilot production of digital interaction - information and documents that FAS exchanges with “Sberbank” are transferred successfully and stored in encrypted form using the blockchain technology and cryptographic means certified in the Russian Federation.

Stats-Secretary, Deputy Head of FAS Andrey Tsarikovskiy pointed out: “Russia is opening new opportunities for the economy using cutting-edge knowledge and technologies. The Government adopted the “Digital Economy of the Russian Federation” Programme, and the President instructed to promptly determine the status of digital technologies that use blockchain. The system in pilot production is not only one of the first examples in the world of using blockchain by the state but also it is a practical tool for further developing this technology in order to simplify and improve interaction between the state, business and the authorities. We are grateful to the top management of “Sberbank” and especially the team of “Sberbank Digital”for our large and ultimately successful efforts”.

“According to a theory of Dave Logan, a well-known world expert in the field of leadership, the highest level of development is demonstrated by the communities that work towards making the world better rather than to win over their competitors”, said Senior Vice-President of “Sberbank”, Teimur Sternlieb. “I am confident that in practice we will do everything possible to employ our knowledge and experience to offer the best digital services and products to our customers, partners and the state”.

“The FAS decision has several innovations that thanks to the blockchain technology help stop using the services of intermediaries – operators of document flows, guarantee access to information only for end-users and reduce the costs. This project is a joint contribution of “Sberbank” and FAS in their efforts towards developing digital economy in Russia that are undertaking together with the state and the business-community”, added Managing Director of “Sberbank Digital”, Stepan Kuznetsov.