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Sberbank criticized the blockchain of the Central Bank of the Russian Federation

The largest bank in Russia, Central and Eastern Europe – Sberbank withdraws from participation in the Masterchain blockchain launched with the support of the Central Bank of the Russian Federation. This was stated by Oleg Abdrashitov, the head of the blockchain laboratories of the bank, complaining about the poor speed, low security and inefficiency of the platform.

As an alternative, Sberbank is considering Western corporate blockchain platforms Hyperledger Fabric from IMB and Quorum from JPMorgan.

“Masterchain” does not meet the requirements of Sberbank cases, so for all future research we will use corporate platforms, such as Hyperledger Fabric or Quorum, ”said Abdrashitov.

Representatives of Raiffeisenbank, which also participates in Masterchain, recently admitted that they are also investigating other corporate blockchain platforms, including HyperLedger Fabric, Corda from the R3 consortium, and its own Ethereum-based framework called R-chain.


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