Sberbank Conducts the First Letter of Credit Transaction on the Blockchain


Jan 11, 2017
Russia’s largest bank, Sberbank, and steel and mining company "Severstal" have successfully used Blockchain technology to conduct international letter of credit transactions.

One of the Belarusian counterparties of PAO Severstal and Sberbank had already tested the issuance of an international letter of credit under a contract for the supply of steel. Sberbank announced the result of their first test of international letter of credit transactions using blockchain technology at the XXI St. Petersburg International Economic Forum last week, noting that this is the first of its kind Blockchain-based transaction in Eastern Europe.

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New Member
Jun 11, 2017
Our modern world is trying to develop everything for us. It wants to improve all spheres of life. And blockchain technology is a way to live without troubles, because on the blockchain technology based cryptocurrency. In my opinion we have to support this idea. It is very useful way to live simple. Of course, we can face criticism about this topic, but everyone must understand, that this innovation is going to change our life.

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