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The head of Sberbank: the Hype has passed, the blockchain has reached the stage of industrial development

The hype around technologies of distributed registries finally subsided and the blockchain has passed the stage of industrial development, said the head of Sberbank German Gref. This banker believes that the massive exploitation of the technology could begin in 1-2 years.

“While this is all the research and experiments. We don’t have blockchain solutions are not put into commercial operation. Moreover, I see that we are yet not ready for it, there are a large number of technological problems related to the immaturity of the technology. Still need time to fully implement. The hype around the technology has passed, it has passed the stage of industrial development. The technology will require a year or two to apply in an industrial scale,” he said.

However, Gref said that the blockchain is not the technology that needs to be applied in all areas.

“The mass of cases of the industrial use of technology does not happen”, — he concluded.


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