Why Russia's Largest Bank is Worried About Blockchain's Dark Side
After a flight through the air, my driver's license bounces a few feet from our table, coming to a stop on the plush carpet of a Shanghai hotel. Pavel Khodalev, the chief technology officer at Sberbank, smiles. Despite the language gap, the point seems to register. As consumers, we're free to lose our personal items in the physical world – or in my case, throw them across a hotel lobby – if we choose. The two of us are in China for International Blockchain Week, and Khodalev has just finished highlighting how his employer, the largest bank in Russia, is exploring applications of the....
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Sberbank, Russia’s largest bank by assets and the Federal Antimonopoly Service of the Russian Federation (FAS Russia) have launched a blockchain pilot for the encrypted exchange of documents. The blockchain binge doesn’t quit, especially in Russia. Just a week after the Russian central bank and prominent banks like Sberbank announced the successful testing of a blockchain prototype among major banks in the country, Sberbank has revealed yet another blockchain endeavor. This time, the bank has partnered with FAS Russia, to pilot a blockchain project called the “Digital Ecosystem”, according....
U.S. Senator Elizabeth Warren is worried that “cryptocurrencies risk undermining sanctions against Russia.” She urges financial regulators “to take this threat seriously and increase their scrutiny of digital assets.”
Senator Elizabeth Warren Worried Russia Could Use Cryptocurrency to Evade Sanctions
As governments worldwide are placing sanctions on Russia following its invasion of Ukraine, U.S. Senator Elizabeth Warren is worried that cryptocurrency could give Russia a way to evade sanctions. The senator from Massachusetts tweeted Monday:
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Sberbank, Russia's largest bank in net assets intends to join the R3-led international blockchain consortium, according to reports. As reported by Russian news publication Kommersant, Sberbank, Russia's biggest bank with over three times the net assets over its closest competitor is keen on joining the global consortium of 30 banks and financial institutions led by New York-based R3. Speaking to be publication, Sberbank's First Deputy Chairman of the Management Board, Leve Khasis, confirmed the bank is keeping a close eye on the evolution of blockchain technology. He added the bank is....