Sberbank, Russian state-owned entity, has inked a deal with state-owned power giant Rosseti to develop new technologies such as blockchain, according to a media release issued earlier today.
Sberbank and Rosseti will collaborate on a series of projects, such as accelerators, research trials, education, and exchange of expertise.
Under the agreement, Sberbank will also expedite a consultant to Rosseti with an intention of “increasing the efficiency of its current operations and performance.” The energy firm will also gain access to a repository of “innovative laboratory developments” and innovative tools from the Sberbank ecosystem.
Commenting on the partnership, Sberbank CEO Herman Gref said
“The strategic partnership between Sberbank and Rosseti in the innovative growth field allows both companies to use the very latest technologies to transform their business and client satisfaction.”
Notably, cryptocurrency mining, storage, use and other activities are yet to be legalized in Russia. However, the government has pledged full support for blockchain.
Following the state-level deployment of technology in December 2017, several initiatives have cropped up from the country’s most influential entities.
Notably, Sberbank had announced in July that it is launching crypto trading facility for its clients at its Swiss division.
