Russia’s Largest Bank Joins Enterprise Ethereum Alliance after R3 Rejection

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News Story Source: Cryptocoins News
Sberbank, Russia's largest bank by assets has joined the Enterprise Ethereum Alliance, the world's largest blockchain consortium.

Initially founded by 30 members in February 2016, The Enterprise Ethereum Alliance (EEA) is a working group of companies, technology startups, corporations and even governments working to leverage open-source Ethereum technology for enterprise blockchain solutions. The consortium has now announced the addition of Sberbank, Russia's largest bank, to a list of over 150 members from public and private sectors alike.

As early as 2015, Sberbank publicly stated its intent to develop blockchain solutions with global partners by revealing its desire to join the international banking blockchain consortium led by New York startup R3. Subsequently, R3 reportedly refused Sberbank's membership to the consortium. In September 2016, Sberbank joined the Linux Foundation-led open-source Hyperledger Project.

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