The Russian Sberbank and the investment company Interros concluded an over-the-counter repo transaction (an alternative to lending against securities) based on the blockchain platform Hyperledger Fabric. For both institutions, this was the first blockchain experience with this type of agreement, the press service of the bank reported.
The transaction was settled by a smart contract written in the GO programming language.
"In the future, the conclusion of transactions through the blockchain platform will reduce transaction costs and errors through automation, as well as increase transparency and trust among all participants in the financial market, " said Sberbank representatives.
They added that in the future the IT platform through which the transaction was implemented, "will become part of the overall decentralized infrastructure of the financial market."
Recall that in October, Sberbank announced its readiness to hold ICO for customers.
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