September 29, 2020

Subsidiary company of Sberbank integrated the blockchain

A subsidiary company of Sberbank Switzerland AG connected to the platform on the basis of a block for financing the commodity trade toovapami.

Organization of the subscriber agreement with the Swissplatform of trade finance Komgo on the use of trade finance services on the basis of a blockchain, the purpose of which is to create a digital

Head of the Department of Trade FinanceSberbank Evgeniy Kpavchenko emphasized that the financing of trade in goods is a strategic direction of the activities of Sberbank Switzerland AG. He added that Russia and the countries of the State of Independent States are key markets for the company, although Sberbank Switzerland AG supports trade around the world.

Over the past years, the digitalization of the tradingfinances were rapidly accelerated, and this was due to the needs of the market participants, - said Kropchenko, adding that the additional financing of the economy

Komgo is a start-up with a decentralizedTrade finance, which develops a platform for financing trade in goods on the basis of the Ethereum block. One of its goals is to speed up the transactions of trade finance, and also to allow interested parties to instantly keep track of the downloads of the stock. Later, the Savings Bank assumes active steps for using blockchain technology.

Most often, the largest Russian bankcooperates with S7 Airlines on the introduction of a ticket sales system on the main blockchain. In addition, in the bank, it is possible to start up a custom-made steyblok with adhesion to the Russian ruble.