Thursday, April 7, 2016

Blockchain Tech Will Make Banks Disappear in 10 Years, Says VP of Russia’s Biggest Bank

The quotes are certain to raise eyebrows among bankers, everywhere. The Vice President of Sberbank, Russia’s biggest bank by assets and the third largest bank in Europe (2014 figures) has opined that the advent and spread of blockchain technology will see banks disappear by 2026.


Speaking at Metro Expo 2016, an industry conference, Sberbank’s vice president Andrey Sharov shared his thoughts about the future of the banking industry.

With quotes reported by Russian news agency , Sharov predicts that the rise of blockchain technology will lead to the demise of the current banking industry as the way we know it to be.

The Vice President of Russia’s largest bank stated:

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