Sberbank Makes Payment Transaction on IBM Blockchain Technology

Sberbank has organised the Russian banking industrys first pilot blockchain payment transaction, using the IBM Blockchain Platform on the basis of HyperLedger Fabric. Sberbanks partners and participants in the pilot were MegaFon, MegaLabs, Alfa-Bank, and IBM. Sberbank CIB organised the process of transferring money from the payer to the receiver using blockchain technology. Sberbanks IT infrastructure was used to set up a service for establishing the uniform transaction procedure, the certification centre of the network, and a web app for the client with a personal account section. In addition, Sberbank and Alfa-Bank hosted the nodes of the blockchain network. The technological process which was created will serve as the primary scenario for developing a new settlement function.

 

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