Herman Gref, Sberbank: the cryptocurrency has no future

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According to the head of a large Russian Bank, the big countries are not interested in the existence of digital money, so they do not get the opportunity to develop

Cryptocurrencies will not get wide distribution and development in the near future, said the head of Sberbank German Gref. During a speech at the forum of innovative financial technologies Finopolis he shared his opinion about the future of the blockchain-industry, RIA Novosti reported.

“You see I big future for cryptocurrency? So far, the state does not relinquish its centralized role, will not be allowed cryptocurrency,” — said Gref.

He stressed that he likes the idea of a decentralized system of money supply, but in the next 10 years will not accept it no state. The head of Sberbank, called the blockchain technology of the future, which is a great opportunity but not yet ready to use fully.

“When it’s ready? In my opinion, three to five years. If you ask me in five years, maybe I’ll have something more intelligible to say about her place, but the potential is huge. A philosophy which is embedded in it, fundamentally changes many approaches. Improvement of technology will give a huge value (value — approx. ed.) and for business and for society,” says Gref.

The specialist added that the technology of distributed registry itself is funding, and the prohibition of cryptocurrency circulation can harm a large number of companies. The most important thing is to find a middle ground, whereby it will be possible to safely develop the technology.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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