Russia Implements First Government Blockchain

Russia has formally finalized its first-ever government-level Blockchain implementation.  The state-controlled Sberbank made public today that it is collaborating with the country’s Federal Antimonopoly Service or FAS to implement the government transfer and storage through Blockchain.

Based on statements made by local sources, this move represents the first incident of direct state Blockchain technology implementation.

Giving a wider perspective of the implementation, Andrey Tsarikovskiy, the statе secretary and deputy head of FAS, in a Sberbank press release said:

“Our country is opening up new possibilities for the economy through the use of advanced knowledge and technology. Making the system launch a reality means we are not only one of the first actual users of Blockchain for government in the world, but also [are pioneering its use] as a practical tool for further growth.”

For several years, the Russian government has shown unswerving interest in pursuing Blockchain technology development in the country.  In June 2017, Russian President Vladimir Putin had a meeting with Vitalik Buterin of Ethereum.  Last August, the government-owned bank VEB signed an agreement with the Ethereum Foundation in order to develop Blockchain educational programs in the country.

However, the country’s official stand on the use of cryptocurrencies for ordinary citizens remains somewhat strict.