The CEO of one of the largest banks in Russia, Sberbank, is in the blockchain news lately for making a bold statement and predicting that global governments won’t “let go” of centralized models to allow decentralized cryptocurrencies to flourish within the next 10 years.
Herman Gref, the Sberbank CEO, thinks that governments are not yet ready to part with centralized currencies. As the local news agency named RIA Novosti reported two days ago, Gref said:
“[The future] of cryptocurrencies is not clear so far as the state will not give up its central role, won’t allow [decentralized] cryptocurrencies. Though this might be the proper model – as for me, I’m for a distributed model, including in money supply. But it seems like that is not in the cards for the next — well, let’s be optimistic – ten years.”
Even though he stated this, Gref remains confident about the future of crypto and the underlying technology behind it – blockchain. He said that the tech would be “ready” for adoption in a shorter time span of 3-5 years, noting:
“The technology [blockchain] isn’t ready right now. When will it be ready? In my view, in 3-5 years […] [Blockchain’s] potential is huge. The philosophy embodied in it could drastically change approaches in many areas. Improving this technology could bring huge value both to business and society.”
The CEO of Sberbank also encouraged governments to seek for a middle ground between the mitigating fraudulent activities and the “killing” cryptocurrencies – pointing out to a crypto ban as something that would do harm for lots of companies that are active in the realm of distributed ledger technologies (DLT) such as blockchain.
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