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| comment | | "parent_author":"",<br>"parent_permlink":"blockchain",<br>"author":"wowzeryoutube",<br>"permlink":"sberbank-pilots-money-transfer-on-an-ibm-blockchain",<br>"title":"Sberbank Pilots Money Transfer On An IBM Blockchain",<br>"body":"![DSC_0065ss.jpg (https:\/\/steemitimages.com\/DQmZ2tmJpRgieRxqUrW87gGBpqmf9U4GURbCfvHn3bczyaE\/DSC_0065ss.jpg)\n\n\n\n\nRussia\u2019s Biggest Bank Pilots Money Transfer on an IBM Blockchain\n\n\nSberbank has piloted the Russian banking industry\u2019s first ever payment transaction over a blockchain.\n\nSberbank,<br> Russia\u2019s biggest bank by assets,<br> has executed a real-time money transfer over an IBM-built blockchain based on the Hyperledger Fabric \u2013 a blockchain software. The transaction involved a money transfer of an unknown sum between a payer and a receiver in two separate banks,<br> facilitated by Sberbank\u2019s IT systems complete with a web application for the bank\u2019s client to track the transfer.\n\nAs reported by CCN in July,<br> the Linux Foundation-led open-source Hyperledger blockchain consortium formally released its first production-ready blockchain software in the Hyperledger Fabric 1.0.\n\n\u201cThe blockchain solution created by Sberbank has allowed us to make the first pilot payment transaction \u2013 using IBM Blockchain technology \u2013 in the history of the Russian banking industry,<br>\u201d Sberbank\u2019s managing director Stella Kudachkina said.\n\nSberbank also listed a number of participating partners involved in the pilot payment transaction,<br> hinting at a future of blockchain payments for retail banking customers. They include MegaFon,<br> Russia\u2019s second-largest mobile phone operator; MegaLabs,<br> a Moscow-based IT solutions provider; Alfa-Bank,<br> a major Russian private bank and; technology giant IBM.\n\nNotably,<br> Sberbank and Alfa-Bank hosted the blockchain\u2019s nodes with the ultimate aim to \u201cserve as the primary scenario for developing a new settlement function\u201d between the two banks.\n\nThe Sberbank executive added:\n\nThe advantage of using this technology when performing settlements is the high speed at which transfers are made: after the money is sent the transaction is recorded on the receiver\u2019s account almost instantly,<br> in real time,<br> unlike the traditional system that is used to make transfers.\n\nSberbank\u2019s announcement comes within months of the bank joining the Enterprise Ethereum Alliance (EEA),<br> a consortium of companies,<br> startups and governments working to leverage open-source Ethereum blockchain technology for enterprise solutions.\n\nEarlier this year,<br> the bank\u2019s chief executive Herman Gref \u2013 notably a bitcoiner \u2013 claimed that Russia will see commercial applications of blockchain technology by 2019.",<br>"json_metadata":" \"tags\":[\"blockchain\",<br>\"blockchaintechnology\",<br>\"blockchainnews\",<br>\"banking\",<br>\"money\" ,<br>\"image\":[\"https:\/\/steemitimages.com\/DQmZ2tmJpRgieRxqUrW87gGBpqmf9U4GURbCfvHn3bczyaE\/DSC_0065ss.jpg\" ,<br>\"app\":\"steemit\/0.1\",<br>\"format\":\"markdown\" " |
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