Sberbank tapped into blockchain from Waves Enterprise

Sberbank has tested the interoperability of its enterprise platform based on Hyperledger Fabric and the Waves Enterprise platform.

The integration mechanism implemented on Sberbank’s platform enables participants in external blockchain networks to access digital assets issued on it, and to use smart contracts and applications available on external networks to settle with these assets.

Several pilot transactions using smart contracts transferred Bitcoin Profit platform from the Sbera platform to the Waves Enterprise network were carried out during the trial. The latter conducted several transactions between different owners and then the tokens returned to Sbera’s platform.

For now, the interaction between the two blockchain platforms is based on a gateway, but next year there are plans to implement interoperability mechanisms for direct interaction between the two blockchain networks. Sber is considering the Gravity protocol and the Hyperledger Cactus framework as possible solutions.

„Successful pilot transactions on the platforms of Sber and Waves Enterprise proved that it is possible to build a system of mutual settlements between companies using different blockchain platforms. This opens up new prospects both for our clients and for the entire blockchain market,“ said Sergey Popov, Director of Sberbank’s Transaction Banking Division.

He also expressed the hope that once the Digital Financial Assets Act comes into force in January 2021, companies will be able to conduct mutual settlements using smart contracts.

Recall that in November, Sberbank announced plans to launch a blockchain platform through which users will be able to purchase digital financial assets.

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