CRYPTOMARKET

Prominent Russian Banker Is Pro Crypto

Herman Gref, the CEO of Sberbank, Russias largest bank and Europes third largest has stated that industrial-scale adoption of blockchain technology will surge within the next year or two.

Gref has stated that we have now got over the hype surrounding blockchain that we will start to see many more practical uses of blockchain. He believes we have moved beyond the theory and can begin to put it in to practice.

“The hype surrounding the technology has passed, and it has entered a stage of industrial development,” Gref said via Tass. “The technology will take a year or two to be applied on an industrial scale.”

The head of Russias largest bank has been a vocal opponent of the Russian government’s stance on virtual currencies and has stated that crypto is a “great technology”. He has urged the Russian authorities to be patient with these nascent technologies and to tone down anti-crypto rhetoric until its uses can be better understood.

Whilst he does not believe that fiat money will be replaced by crypto he does express disdain towards government interference:

“Do I see a great future in cryptocurrency? Not yet, as the state will not give up its centralized role, it will not allow cryptocurrencies,” Gref told the Russian news agency RIA Novosti.

He has previously stated that it will take up to a decade for crypto to be widely accepted.

“I’m optimistic about 10 years,” he said. “Maybe 10 years will be visible beyond the horizon, but so far it’s not likely that any state is ready to part with the centralized money-supply model.”

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