Sberbank calls on suppliers to provide almost 5.00 ATMs with graphic cards

Monday 1 June 2020 11:20 CET | News

Russia-based Sberbank has called on local suppliers to provide 4.917 ATMs that come with built-in graphic cards that can perform ‘blockchain operations.’

According to Crowdfund Insider, these graphic cards would most likely be used for mining decentralized cryptocurrencies like Bitcoin (BTC). Although BTC ATMs or BTMs are becoming common and are being adopted, regular or normal bank ATMs that use blockchain tech might not have been deployed anywhere.

As first reported by Cointelegraph, the maximum bid for the tender stands at almost USD 108 mln, meaning that it would cost USD 22 mln per ATM. A key requirement is that the ATMs should have a built-in graphics card.

Although DLT may not be as widely adopted in the country as other jurisdictions like China, Russian tax authorities are using a blockchain-enabled platform to process loan applications for SMBs. Russian MPs have proposed a bill that recommends punishing individuals or entities involved in the illegal turnover of crypto assets.

Russia’s government might also issue its own central bank digital currency like Sweden or France which recently performed the first transaction using a CBDC.

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Keywords: Russia, banks, Sherbank, cards, ATMs, blockchain, graphic cards, Bitcoin, BTC, BTM, banks, DLT, China, loan, SMBs, Sweden, France, CBDC
Categories: DeFi & Crypto & Web3
Countries: Russian Federation
This article is part of category

DeFi & Crypto & Web3