German Gref Doesn’t Consider Cryptocurrency a Life-Changing Technology

Published on 25 Apr. 2018
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The head of Sberbank of Russia German Gref, who had continually spoken favorably of the blockchain technology, called cryptocurrencies an immature and overestimated technology on Tuesday, 24th of April, during his public speech “Technological trends and factors of advanced development” in Chisinau.

The absolute leader is the AI technology. Such things as cryptocurrencies are, of course, hype things. Everyone has started to earn on them actively. But we see that the maturity of the blockchain technology is yet not sufficient to treat it as a life-changing one,

- Gref mentioned.

At the moment, Gref believes, only the AI technology is worth calling a driver of the exponential growth. He noticed that this is a technology that has become available to everyone, even unqualified users.
During the lecture, Gref said that new technologies that carry fundamental changes with them provide small countries with the new possibilities and the potential for development. The economist was generous with turgidities:

We are on the verge of such colossal changes that can be equaled to the birth of life on Earth. Today, small countries have a chance to take a worthy place under the sun, when the old world has changed, and new is not yet created,

- said Gref.

The expert believes that transiency of today and changes in future are in direct relation to the fast pace of the development of various technologies.

It is interesting that Sberbank has entered a blockchain consortium Enterprise Ethereum Alliance last year which works on blockchain solutions for business.

Later, a blockchain lab was created for investigation of innovative technologies, the popularization of the blockchain, and help in preparing educational programs in this sphere. German Gref even spoke before the president of the RF, offering the implementation and development of the blockchain technology.

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