Sberbank of Russia signed an agreement with a French IT-company on the development of "smart cities" in the Russian Federation. The parties agreed on cooperation within the St. Petersburg International Economic Forum (SPIEF), reports TASS.

In particular, the companies will work together on solutions for the Internet of Things (IoT), big data analytics and software development.

Responsibility for strategy and operational and financial support will be assumed by Sberbank, and Orange Business Services will provide access to Orange's international experience with IoT technical solutions.

“The Internet of Things is a new high-tech market with great growth potential. “Smart City”, largely based on the technologies of the Internet of Things, is an important direction not only from a business point of view, but also from social responsibility. The combination of Sberbank's ecosystem capabilities, in cooperation with Orange's world experience and Sberbank Telecom competence center in the smart city direction, will allow us to become a significant player in this strategically important direction, ”said Sberbank Telecom CEO Ruslan Gurdzhiyan

It should be noted that the project “Smart City” is being implemented within the framework of the state program “Digital Economy”.

Recall that last year Sberbank entered the consortium of the Center for Wireless Communications Competence and IoT, which deals with scientific research and the introduction of modern technologies in business, as well as the development of industry standards and educational programs. Then it was reported that the company plans to buy licenses for intellectual property, developed within the Center, to bring technology to the global market.

Earlier, BlockchainJournal told in detail how IoT and the blockchain are connected, as well as how they integrate.

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