Largest Russian bank starts to use blockchain

Sberbank implemented the first Russian payment transaction using blockchain technology
29 November 2017   295

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.

 

Stella Kudachkina

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.

Previously, Sberbank became the first Russian participant of the Enterprise Ethereum Alliance.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   232

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.