Sberbank Buys 5000 Blockchain ATMs

 

Sberbank, the largest bank in Russia, has dramatically increased the number of blockchain ATMs that work with Apple Pay, Google Pay, Samsung Pay, Mir Pay & Huawei Pay.

Sberbank has announced a tender for $108.5 million (over $22,000 USD each one) to purchase around 5,000 ATMs (to be more accurate, 4,917) with integrated graphic cards allowing to implement blockchain operations, according to the Izvestia report.

According to experts, the Russian bank is intended to reduce the physical contacts of citizens with plastic cards during the pandemic. In addition, this step for reducing costs and attracting new customers by the usage of new technologies.

Though, Sberbank is known to be a big fan of innovations related to blockchain technology, however, the bank did not give any exact explanation on what kind of role blockchain technology will play in the new machines.

It is worth noting that over 2 years ago, Sberbank released a blockchain lab to develop & trial the technology for different tasks. For example, in the end of the last year the bank patented a system that converts repo into smart contracts on blockchain.

 

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