President of Sberbank German Gref said that Russian companies are not yet ready for the introduction of the blockchain, but after one or two years it can begin to use at the industrial level, reports TASS.

In conversation with journalists, Gref said that the hype around the blockchain subsided, and now begins the industrial development of this technology.

“While this is all the research and experiments. We don’t have blockchain solutions are not put into commercial operation. Moreover, I see that we are yet not ready for it, there are a large number of technological problems related to the immaturity of the technology. Still need time to fully implement. The hype around the technology has passed, it has passed the stage of industrial development. The technology will require a year or two to apply on an industrial scale”, — said the head of Sberbank.

He added that the blockchain is not everywhere and not always appropriate, since “the mass of cases of the industrial use of technology does not happen.”

In April of this year, Gref called the blockchain technology is overrated, and in October concluded that in the coming years, cryptocurrencies there is a great future.

We will remind, the savings Bank actively works on the development and implementation of the blockchain. In December 2017, the Bank jointly with the Federal Antimonopoly service (FAS) has launched a project of digital interaction with banks and business entities.

In January 2018, Sberbank opened a laboratory for the study of the blockchain, and in October expressed readiness to conduct the ICO for their customers.