The media learned about the failure of the international blockchain consortium to take Sberbank

The international blockchain-R3 consortium, which includes including Goldman Sachs, JP Morgan and Credit Suisse, was denied membership in the Sberbank. About it reports “Kommersant”, citing a source in the market.

According to the interlocutor of the edition, at the stage of filing the representatives of Sberbank was given to understand that the appeal “will not work because of the sanctions.” “Sberbank was in R3 for the business community, but failed,” said the source.

First Deputy Chairman of Sberbank Lev Khasis told “Kommersant” that the official application for membership in R3 Sberbank was not served, however, two of the newspaper’s source in the banking community expressed confidence that the appeal is still there.

That the savings Bank plans to join in R3, the Khasis told “Kommersant” in December 2015. At that time, he said, the savings Bank had been studying the documentation of the consortium, but a final decision on the accession was not accepted. In September 2016, the savings Bank announced joining the international blockchain consortium Hyperledger.

According to the publication, the interest in accession to the R3 also showed Alfa-Bank, OTKRITIE Bank, national settlement Depository and Bank “AK bars”.

As explained by the newspaper’s Vice-President for strategy and product management, Acronis Dmitry Martynov, the solutions developed in R3, built on the principles of “private blockchain”, in which access to distributed registers has a limited number of organizations and individuals, and Hyperledger, by contrast, follows the idea of “public blockchain”. According to Martynov, the majority of experts believe that the future belongs to open formats blockchain.

In March, the President and Chairman of the Board of Sberbank German Gref said that in 1.5 years the main technological problems that hinder mass deployment of blockchain technology, will be eliminated, and then begin his “rise.” Gref also compared the importance of technology and suggested that the introduction of the blockchain can lead to the fact that the banks are “traditional” will disappear.

The blockchain is a special technology that allows them to build transaction or any transmission of information in the block chain. Each block contains information about other blocks, which creates a distributed database, because the registry contains at the same time all participants in the system. In the banking business, the technology used for payments and processing of large data sets.