Russia’s largest bank opens blockchain lab

Sberbank, the biggest lender in Russia, has announced the launch of a lab that will work on blockchain projects. The technology which drives bitcoin and other cryptocurrencies is known for that reason, but has many other uses.

“Sberbank has opened a blockchain laboratory which will test cutting-edge blockchain technologies, generate ideas to develop blockchain-based solutions, create product prototypes, carry out pilot projects, and implement applied business solutions for Sberbank Group,” the Russian banking major said in a statement.