DeğilSberbank CEO: “governments are not yet ready for crypto expansion”
In recent months, the government has been encouraged by Russian government agencies to invest in decentralized technologies. In 2017, Russian President Vladimir Putin had clarified his position on the country’s crypto currencies. He also promised full support for the development of cryptocurrency, as well as Blockchain technology. In fact, the meeting with Ethereum’s co-founder, Vitalik Buterin, was the greatest proof that he approved of crypto coins. But the Sberbank CEO, who expressed an opinion on the issue, does not seem to agree.
Sberbank CEO thinks that the mass adaptation of crypts will not happen soon
However, the chairman of the state-owned banking giant of Russia expressed a different view. Herman Gref, the government-backed Sberbank CEO, believes that the majority of governments will not be easy to transition from traditional models to Blockchain over the next decade. He also thinks that the mass adaptation of crypto coins is therefore quite difficult:
The future of crypto coins does not seem very clear because it will not leave the central role of the states. This will not allow decentralized crypto money. Although this is a suitable model – as for me, it will be a distributed model, including the source of money. But it seems that the next cards do not exist – let’s be optimistic – at least ten years.
Still, Gref is optimistic about the technology behind Blockchain, Bitcoin, and other crypto coins. He believes that Blockchain will move forward enough to accept the mainstream in 3-5 years. Gref said in a statement:
Blockchain technology is not currently available. When it will be ready? In my view, in 3-5 years al The philosophy it contains can drastically change the approaches in many areas. Developing this technology can bring great value to both business and society.
The strike should also focus on identifying and deterring crypto-related fraud activities, rather than killing real crypto coins. It also says that the prohibitions against the public may harm legal companies that offer Blockchain based solutions.
He is known as one of the financial giants of the world, who invested in decentralized books to transform Sberbank’s financial sector.