Gref expects 5-10 years “huge shift” in the economy thanks to the introduction of the blockchain

MOSCOW, September 16. /TASS/. The head of Sberbank German Gref expects the economy “huge shift” after the start of the industrial applications of the blockchain in business and public administration. He said this during the filming of quiz for school students “the Digital economy. Generation Z”.

Speaking of blockchain technology – a key innovation of digital technology, the application of which, in the opinion of many experts, is able to change the economic and political landscape, he noted that, despite her immaturity, the technology is very promising and the companies that want to maintain its position in a changed market, it is best to start with her experiment.

“I think 5-10 years is when we will see a huge shift in the economy,” he said, noting that as it will change the Economics and business models, impossible to predict now.

“People are asking me whether there will be a savings Bank after the technology is Mature. This is a very big question, which of the types of businesses in General will remain. We’re talking about blockchain economy, because this technology is so comprehensive, gives you a huge opportunity. It is impossible to predict how it will change business models,” said the head of Sberbank.

According to Gref, will be held not less than five years when the blockchain can be applied in industrial models.

“More realistic figures, from seven to 10 years,” he said.