Sberbank has become the organizer of a pilot payment blockchain transaction using the IBM Blockchain platform based on HyperLedger Fabric. The organization of the technical process for executing the transfer of funds from the payer to the recipient was taken over by Sberbank CIB. In the IT infrastructure of the Bank, a kind of Internet bank was created on the blockchain, consisting of a service for determining a single transaction order and a certifying network center.
Unlike the traditional system of transfers, the reflection of an operation on the beneficiary's account after it is sent is practically in real time.
managing director of Sberbank CIB
The nodes of the blockchain-network were on the side of Sberbank and Alfa Bank, which is a partner of the project. The transaction was initiated through a client web application. The blockchain technology ensured a high speed of execution of the transfer between the participants. The ability to conduct blockchain transactions in an ordinary Internet bank will appear when the service of blockchain transactions is legally established and will be implemented for customers.