Cryptocurrency

Sberbank buys 5000 atms Blockchain

The largest bank in Russia, Sberbank, is buying up to 5,000 atms based on Blockchain that can exploit the criptodivisas. In this sense, the largest bank in Russia, has called a tender for the purchase of 4.917 atms with a graphics card built-in capable of supporting operations “Blockchain”.

Sberbank is the oldest bank and largest in Russia and has almost 44% of all personal deposits in the country. Operates 14.200 branches and 77,000 atms across the country.

The State is its largest shareholder and its President and ceo, Herman Gref, was the former minister of Economy and Trade of Russia. The same, is known for being a great supporter of the new technology, including Blockchain.

Sberbank gives a new opportunity

The price of the tellers is based on the maximum bid of the tender, which is 108.501.718,05 dollars, which is equivalent to 22.066,65 dollars atm. Therefore, one of the technical requirements for these atms is that they come equipped with a graphics card:

“Graphics card with support for Nvidia Cuda OS for the recognition of images and possible operation of the Blockchain”.

How can the largest bank of Russia to issue its own criptodivisa?

However, the atms of Bitcoin (BTC) are not a novelty. But the atm bank with normal technology Blockchain are not unusual. So we must ask ourselves: why an atm of a bank you need a graphics card able to handle some operations Blockchain? There are several possibilities…

The use case more obvious is the mining of cryptography. How could the Sberbank be releasing their own criptodivisa or the Russian government will use the bank’s network to distribute a criptomoneda?

Also, a possible explanation much less interesting is that there is simply an error in the description of the tender document and the graphics card is only needed for the recognition of images. Which would make sense considering that these atms also have biometric authentication.

The experts think: The registration by Blockchain

Matveev Voytov is the head of marketing of the platform Blockchain, Waves Enterprise, which has explored a number of initiatives with corporations and the Russian government. The same comments that the technology Blockchain could be used to record transactions from the atms of the users.

However, I could not think of a use case of Blockchain for a graphics card outside of mining. Even so, believes that the issuance of a CBDC, or the cryptography of Sberbank is unlikely, since, you believe that an error in the tender document is a more realistic scenario.

At the same time, he noted that the Tax Authority of Russia recently introduced a platform for Blockchain to issue fast-track loans to small businesses.

Also, Alexander Chepurnoy, co-founder of the platform of the Blockchain, Ergo, also offered his opinion and said that she had trouble finding use cases for the graphics card able to run with the Blockchain outside of mining.

“In addition to mining, maybe it could be used for the processing of some cryptographic algorithms, but I have no idea why an atm need it”.

He also said that the card could not be used effectively to undermine Bitcoin, but that could address the mining of altcoin. For example, Ergo (EFYT), Grin (GRIN) or Ravencoin (NLR).

What are the plans to Russia?

What could possibly be planning to the euro-asian nation? If Russia has in mind the issuance of a CBDC, it is likely that the Sberbank is the first bank in hearing about it. Because of that, there is no better way of distributing it through the vast network of the bank that comes to every corner of the vast country.

Or, perhaps these new atms could become part of the huge network mining that supports the new criptodivisa?

We must take into account that recently the Russian congressmen introduced a bill that would punish severely the turnover illegal of digital assets. One of the reasons for this could be a justification to clear the ground for a criptodivisa authorized and issued by the nation.

The creation of a criptomoneda would be of great benefit to the nation in their desire to evade the international financial system, where the head is the united States, in order to avoid sanctions of the american nation.

However, the theories for the purchase of 5,000 atms-based Blockchain, it could simply be an error in the tender document.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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