Sberbank performed the Russia's first payment a blockchain transaction

2017

The Russia's first pilot payment blockchain transaction

Sberbank in November, 2017 became the organizer of carrying out the first in the history of the Russian banking practice pilot payment a blockchain transaction using the IBM Blockchain platform based on HyperLedger Fabric. MegaFon, "Megalabs", Alfa-Bank and also IBM company acted as partners of Sberbank and participants of pilot transaction.

Sberbank CIB spoke on behalf as the organizer of process on execution of money transfer of the payer to the receiver using blockchain technology. On IT infrastructure of Sberbank service of determination of a uniform order of transactions, certification center of network and the client web application with functionality of a personal account is set. Also on the party of Sberbank and Alfa-Bank there were necessary nodes of network a blockchain. The created technology process is the basic scenario on the basis of which the new settlement functionality should be developed.

MegaFon, Alfa-Bank and Sberbank performed the Russia's first payment transaction using blockchain technology

Payment transaction for the amount of 1 million rubles is performed between MegaFon and Megalabsy within the existing agreement of a renewable loan. Exchange of electronic transactions was carried out on the decentralized computer network consisting of the nodes interacting under the protocol of Hyperledger Fabric technology of the IBM Blockchain platform. Participants of network could send and receive electronic documents online, keep track of the status of carrying out the transaction, had access to viewing the blocks a blockchain transactions containing all history of payment transactions.

IT infrastructure represents service of determination of a uniform order of transactions (orderer), certification center of network (UTs) and several nodes confirming correctness of transactions (endorser-nodes) located on the party of Sberbank. A similar ^[1] it is unrolled also on the party of Alfa-Bank. MegaFon and "Megalabs" were connected via the Internet browser to the client web application with functionality of a personal account which provides the interface for interaction with network.

"Implementation of corporate calculations at the interbank level using technology of the distributed registers opens new opportunities to all market. The blockchain technology is capable to change fundamentally the market of non-cash payments, to accelerate passing of payments, to lower transaction costs of all participants and to optimize liquidity in interbank settlements. We will develop further technologies of the distributed registers as the tool solving business challenges of our clients and starting new business – opportunities", - the Director of the Center of search and development of innovations of Alfa-Bank Denis Dodon noted.

"The technical solution of a blockchain proposed by Sberbank for the first time in the history of the Russian banking practice allowed to perform pilot payment transaction on IBM Blockchain technology — the Managing director of Sberbank CIB Kudachkina Stella noted. — The value of use of this technology when carrying out calculations is, first of all, a high speed of execution of transfer between participants: reflection of transaction on the account of the receiver after his sending happens almost in real time, unlike the traditional system of transfers".

Announcement of the project

Sberbank entrusted IBM (IBM VEA LLC) development of a prototype of the module constructed on the principles of blockchain using the Hyperledger platform.^[2] the Created solution is intended for an automated system of remote banking of financial institutions.

Sberbank entrusted IBM creation of the module blockchain

The agreement is signed with IBM on March 28, 2017, its cost is 15.761 million rubles.

All works are separated into two stages. The first means design of the solution and development of "road map" of development of the platform. It is estimated at 4.7 million rubles and should be complete no later than April 14.

The second stage is a development of a prototype and demonstration of the distributed entrusted platform based on Hyperledger. These works are estimated at 11 million rubles and should be executed till July 14, 2017. Payment will happen upon execution of works at the corresponding stage.

In February, 2017 IBM announced development of blockchain technology by request of the authorities of Dubai. The new solution created on the basis of the Hyperledger Fabric project should help the city to monitor transportations of goods and financial transactions.

In March, 2017 it became known of creation of blockchain technology by IBM corporation for the world's largest operator of container transportations — the Danish Maersk. The management system for cargo transportation is also created based on the Hyperledger Fabric platform.

Hyperledger is joint open source the project created for promotion of blockchain technologies using implementation of the functions necessary for the open cross-industry standard of the distributed registers. It is the international project which covers leading companies in the field of finance, the banking sector, Internet of Things, logistics, production and technologies (for example, London Stock Exchange, SWIFT, Moscow Exchange, IBM, Cisco, Intel, etc.). The Hyperledger project functions with assistance of Linux Foundation.

In September, 2016 [1] Sberbank also joined consortium Hyperledger.

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