[2018-05-25]Sberbank Attempts to Launch Russia’s First Initial Coin Offering

[Vladdirescu87]

Sberbank CIB in a partnership with National Settlement Depository (NSD) has announced their intention to set up an Initial Coin Offering (ICO) in the Bank of Russia’s regulatory sandbox. The issuer of the digital currency will be Level One, that operates the largest lecture hall on Moscow’s financial market.

“Sberbank CIB considers the Russian ICO market to be very promising. Many Sberbank clients are interested in this type of investment, and we plan to promote this service proactively once the appropriate legislative framework comes into effect; we will be one of the drivers to institutionalize and popularize this type of transaction,” Igor Bulantsev, Senior Vice President of Sberbank, Head of Sberbank CIB, explains.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/sberbank-attempts-to-launch-initial-coin-offering/

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[Tylev]

To be honest, I did not expect such a decision from Sberbank of Russia. Until that time, Russian banks were categorically against the introduction of any crypto currency in any form. Even advocated the introduction of criminal liability for the use of crypto currency as a means of payment. It seems that the crypto currency will develop in Russia. If this one of the most popular banks in Russia enters their tokens, then other banks will follow its example.

[Fatunad]

To be honest, I did not expect such a decision from Sberbank of Russia. Until that time, Russian banks were categorically against the introduction of any crypto currency in any form. Even advocated the introduction of criminal liability for the use of crypto currency as a means of payment. It seems that the crypto currency will develop in Russia. If this one of the most popular banks in Russia enters their tokens, then other banks will follow its example.

I really dont consider for a coin to be called a "Cryptocurrency" when government do make their own tokens this wont really be far to be considered to be e-cash or e-fiat. All centralized things cant be called as crypto.
Countries which do accept and do create their own coin i would really not be surprised for other countries to go with the trend as well when they do saw other countries is doing it already.

[konomi]

This is a cryptocurrency issued in the name of the country. If it is backed by a bank, it will become extremely powerful and it will soon be able to defeat other altcoins.We can look at Ripple.

[hatshepsut93]

This is a cryptocurrency issued in the name of the country. If it is backed by a bank, it will become extremely powerful and it will soon be able to defeat other altcoins.We can look at Ripple.

Ripple at least pretends to be a decentralized cryptocurrency, and since most newbies are not able to analyze the technology by themselves, they easily believe this manipulation. But government-owned "cryptocurrencies" are obviously centralized, they will have monopolized mining, nodes, maybe even mutable blockchain - it would be very hard to form any hype around it when it's the opposite of everything cryptocurrencies claim to be - decentralized, permissionless, open-source, free. Petro has failed, and this Russian coin will fail too.

[SectorZero]

To be honest, I did not expect such a decision from Sberbank of Russia. Until that time, Russian banks were categorically against the introduction of any crypto currency in any form. Even advocated the introduction of criminal liability for the use of crypto currency as a means of payment. It seems that the crypto currency will develop in Russia. If this one of the most popular banks in Russia enters their tokens, then other banks will follow its example.

I really dont consider for a coin to be called a "Cryptocurrency" when government do make their own tokens this wont really be far to be considered to be e-cash or e-fiat. All centralized things cant be called as crypto.
Countries which do accept and do create their own coin i would really not be surprised for other countries to go with the trend as well when they do saw other countries is doing it already.

I agree, the situation is ambiguous. The Central Bank of Russia in a package of Sberbank shares has 51%, which means all the actions of Sberbank are agreed with the Central Bank, and then the question arises - Who needs it and why is it all.
If the goal was to legalize cryptocurrencies, the first digital currency would be created by a private Bank in Russia. Do you have any thoughts on this?