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Russia\u2019s biggest bank is spending more than $100 million on 5,000 blockchain enabled ATMs … that are capable of mining cryptocurrency. Russia\u2019s largest bank, Sberbank, has\u00a0called for tenders\u00a0to provide 4,917 ATMs with a built-in graphic card capable of supporting \u201cblockchain operations\u201d. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia\u2019s oldest and largest bank and holds almost 44% of all personal deposits in the country. It\u00a0operates\u00a014,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was\u00a0Russia\u2019s former minister of Economics and Trade. He is known to be a big proponent of new technology, including blockchain. World\u2019s first blockchain ATMs? The maximum bid for the tender is $108,501,718.05, which equates to $22,066.65 per ATM. One of the technical requirements for these ATMs is that they should come equipped with a graphic card: \u201cGraphic card with support for Nvidia Cuda for OS for image recognition and possible blockchain operability\u201d. Bitcoin (BTC) ATMs are not a novelty, however, regular bank ATMs with blockchain technology are unusual. The big question is: why does a bank ATM need a graphic card that is capable of handling some blockchain operations? There are a couple of possibilities … A cryptorouble or error? The most obvious use case is cryptocurrency mining. Could Sberbank be issuing its own cryptocurrency or will Russia\u2019s government use the bank\u2019s vast network to distribute a cryptorouble? A much less interesting possible explanation is that there is simply an error in the tender document\u2019s description and the graphics card is only needed for image recognition, which would make sense considering that these ATMs will also have biometric authentication. Recording ATM transactions on blockchain Matvey Voytov is the head of marketing of Waves Enterprise blockchain platform which has explored several\u00a0initiatives with Russian corporations and Russian government. He told Cointelegraph that the blockchain technology could be used to record users\u2019 ATM transactions. He could not think of a blockchain use case for a graphics card outside of mining. Still he thinks that the issuance of a CBDC or Sberbank\u2019s own cryptocurrency is unlikely and believes an error in the tender document is a more likely scenario. At the same time, he pointed to Russia’s Tax Authority recently\u00a0introducing\u00a0a blockchain platform for the expedited loan issuance for small businesses. Could be used to mine altcoins Alexander Chepurnoy, co-founder of Ergo\u00a0blockchain platform, also had hard time coming up with use cases for the blockchain capable graphic card outside of mining: \u201cBesides mining, perhaps it could be used for processing of some cryptographic algorithms, but I have no idea why an ATM would need it.\u201d He said the card could not be effectively used to mine Bitcoin, but it could tackle altcoin mining, for example Ergo (EFYT), Grin (GRIN) or Ravencoin (RVN). Speculation corner If Russia is planning the issuance of a CBDC, it\u2019s likely that Sberbank would be the first bank to learn about it. There is no better way of distributing it than through the bank\u2019s vast network that reaches every corner of the immense country. Perhaps, these new ATMs could become a part of the enormous mining network supporting the new cryptocurrency? Russian MPs recently introduced a bill that would severely\u00a0punish illegal turnover of digital assets\u00a0\u2014 a possible rationale could be clearing the ground for an authorized cryptocurrency. In Russia, much like for\u00a0China, the urgency of issuing a CBDC\u00a0is much greater than for any Western country \u2014 there is a desire to bypass the international\u00a0financial system which is dominated by the U.S.\u00a0Sberbank itself has been a\u00a0subject\u00a0of Western sanctions. Speculation aside, a simple mistake in the tender document remains a viable explanation. Source:\u00a0https:\/\/cointelegraph.com\/news\/russias-biggest-bank-is-buying-5000-blockchain-atms-that-can-mine-crypto 00<\/p>\n","protected":false},"author":1,"featured_media":6312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65,64,63,23],"tags":[],"class_list":["post-6309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-bitcoin","category-blockchain","category-multimedia"],"yoast_head":"\n
Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto - We Greece<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wegreece.com.gr\/\u03b7-\u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7-\u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1-\u03c4\u03b7\u03c2-\u03c1\u03c9\u03c3\u03af\u03b1\u03c2-\u03b1\u03b3\u03bf\u03c1\u03ac\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[:el]\u0397 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7 \u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1 \u03c4\u03b7\u03c2 \u03a1\u03c9\u03c3\u03af\u03b1\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03b6\u03b5\u03b9 5.000 Blockchain \u0391\u03a4\u039cs \u03c0\u03bf\u03c5 \u03bc\u03c0\u03bf\u03c1\u03bf\u03cd\u03bd \u03bd\u03b1 \u03b5\u03be\u03bf\u03c1\u03cd\u03be\u03bf\u03c5\u03bd Cryptos[:en]Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto[:] - We Greece\" \/>\n<meta property=\"og:description\" content=\"Russia\u2019s biggest bank is spending more than $100 million on 5,000 blockchain enabled ATMs … that are capable of mining cryptocurrency. Russia\u2019s largest bank, Sberbank, has\u00a0called for tenders\u00a0to provide 4,917 ATMs with a built-in graphic card capable of supporting \u201cblockchain operations\u201d. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia\u2019s oldest and largest bank and holds almost 44% of all personal deposits in the country. It\u00a0operates\u00a014,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was\u00a0Russia\u2019s former minister of Economics and Trade. He is known to be a big proponent of new technology, including blockchain. World\u2019s first blockchain ATMs? The maximum bid for the tender is $108,501,718.05, which equates to $22,066.65 per ATM. One of the technical requirements for these ATMs is that they should come equipped with a graphic card: \u201cGraphic card with support for Nvidia Cuda for OS for image recognition and possible blockchain operability\u201d. Bitcoin (BTC) ATMs are not a novelty, however, regular bank ATMs with blockchain technology are unusual. The big question is: why does a bank ATM need a graphic card that is capable of handling some blockchain operations? There are a couple of possibilities … A cryptorouble or error? The most obvious use case is cryptocurrency mining. Could Sberbank be issuing its own cryptocurrency or will Russia\u2019s government use the bank\u2019s vast network to distribute a cryptorouble? A much less interesting possible explanation is that there is simply an error in the tender document\u2019s description and the graphics card is only needed for image recognition, which would make sense considering that these ATMs will also have biometric authentication. Recording ATM transactions on blockchain Matvey Voytov is the head of marketing of Waves Enterprise blockchain platform which has explored several\u00a0initiatives with Russian corporations and Russian government. He told Cointelegraph that the blockchain technology could be used to record users\u2019 ATM transactions. He could not think of a blockchain use case for a graphics card outside of mining. Still he thinks that the issuance of a CBDC or Sberbank\u2019s own cryptocurrency is unlikely and believes an error in the tender document is a more likely scenario. At the same time, he pointed to Russia’s Tax Authority recently\u00a0introducing\u00a0a blockchain platform for the expedited loan issuance for small businesses. Could be used to mine altcoins Alexander Chepurnoy, co-founder of Ergo\u00a0blockchain platform, also had hard time coming up with use cases for the blockchain capable graphic card outside of mining: \u201cBesides mining, perhaps it could be used for processing of some cryptographic algorithms, but I have no idea why an ATM would need it.\u201d He said the card could not be effectively used to mine Bitcoin, but it could tackle altcoin mining, for example Ergo (EFYT), Grin (GRIN) or Ravencoin (RVN). Speculation corner If Russia is planning the issuance of a CBDC, it\u2019s likely that Sberbank would be the first bank to learn about it. There is no better way of distributing it than through the bank\u2019s vast network that reaches every corner of the immense country. Perhaps, these new ATMs could become a part of the enormous mining network supporting the new cryptocurrency? Russian MPs recently introduced a bill that would severely\u00a0punish illegal turnover of digital assets\u00a0\u2014 a possible rationale could be clearing the ground for an authorized cryptocurrency. In Russia, much like for\u00a0China, the urgency of issuing a CBDC\u00a0is much greater than for any Western country \u2014 there is a desire to bypass the international\u00a0financial system which is dominated by the U.S.\u00a0Sberbank itself has been a\u00a0subject\u00a0of Western sanctions. Speculation aside, a simple mistake in the tender document remains a viable explanation. Source:\u00a0https:\/\/cointelegraph.com\/news\/russias-biggest-bank-is-buying-5000-blockchain-atms-that-can-mine-crypto 00\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wegreece.com.gr\/\u03b7-\u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7-\u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1-\u03c4\u03b7\u03c2-\u03c1\u03c9\u03c3\u03af\u03b1\u03c2-\u03b1\u03b3\u03bf\u03c1\u03ac\/\" \/>\n<meta property=\"og:site_name\" content=\"We Greece\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-22T10:24:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wegreece.com.gr\/wp-content\/uploads\/2020\/06\/Screen-Shot-06-22-20-at-12.57-PM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"728\" \/>\n\t<meta property=\"og:image:height\" content=\"493\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wegreece.com.gr\/%ce%b7-%ce%bc%ce%b5%ce%b3%ce%b1%ce%bb%cf%8d%cf%84%ce%b5%cf%81%ce%b7-%cf%84%cf%81%ce%ac%cf%80%ce%b5%ce%b6%ce%b1-%cf%84%ce%b7%cf%82-%cf%81%cf%89%cf%83%ce%af%ce%b1%cf%82-%ce%b1%ce%b3%ce%bf%cf%81%ce%ac\/\",\"url\":\"https:\/\/wegreece.com.gr\/%ce%b7-%ce%bc%ce%b5%ce%b3%ce%b1%ce%bb%cf%8d%cf%84%ce%b5%cf%81%ce%b7-%cf%84%cf%81%ce%ac%cf%80%ce%b5%ce%b6%ce%b1-%cf%84%ce%b7%cf%82-%cf%81%cf%89%cf%83%ce%af%ce%b1%cf%82-%ce%b1%ce%b3%ce%bf%cf%81%ce%ac\/\",\"name\":\"[:el]\u0397 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7 \u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1 \u03c4\u03b7\u03c2 \u03a1\u03c9\u03c3\u03af\u03b1\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03b6\u03b5\u03b9 5.000 Blockchain \u0391\u03a4\u039cs \u03c0\u03bf\u03c5 \u03bc\u03c0\u03bf\u03c1\u03bf\u03cd\u03bd \u03bd\u03b1 \u03b5\u03be\u03bf\u03c1\u03cd\u03be\u03bf\u03c5\u03bd Cryptos[:en]Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto[:] - 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We Greece","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wegreece.com.gr\/\u03b7-\u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7-\u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1-\u03c4\u03b7\u03c2-\u03c1\u03c9\u03c3\u03af\u03b1\u03c2-\u03b1\u03b3\u03bf\u03c1\u03ac\/","og_locale":"en_US","og_type":"article","og_title":"[:el]\u0397 \u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7 \u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1 \u03c4\u03b7\u03c2 \u03a1\u03c9\u03c3\u03af\u03b1\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03b6\u03b5\u03b9 5.000 Blockchain \u0391\u03a4\u039cs \u03c0\u03bf\u03c5 \u03bc\u03c0\u03bf\u03c1\u03bf\u03cd\u03bd \u03bd\u03b1 \u03b5\u03be\u03bf\u03c1\u03cd\u03be\u03bf\u03c5\u03bd Cryptos[:en]Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto[:] - We Greece","og_description":"Russia\u2019s biggest bank is spending more than $100 million on 5,000 blockchain enabled ATMs … that are capable of mining cryptocurrency. Russia\u2019s largest bank, Sberbank, has\u00a0called for tenders\u00a0to provide 4,917 ATMs with a built-in graphic card capable of supporting \u201cblockchain operations\u201d. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia\u2019s oldest and largest bank and holds almost 44% of all personal deposits in the country. It\u00a0operates\u00a014,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was\u00a0Russia\u2019s former minister of Economics and Trade. He is known to be a big proponent of new technology, including blockchain. World\u2019s first blockchain ATMs? The maximum bid for the tender is $108,501,718.05, which equates to $22,066.65 per ATM. One of the technical requirements for these ATMs is that they should come equipped with a graphic card: \u201cGraphic card with support for Nvidia Cuda for OS for image recognition and possible blockchain operability\u201d. Bitcoin (BTC) ATMs are not a novelty, however, regular bank ATMs with blockchain technology are unusual. The big question is: why does a bank ATM need a graphic card that is capable of handling some blockchain operations? There are a couple of possibilities … A cryptorouble or error? The most obvious use case is cryptocurrency mining. Could Sberbank be issuing its own cryptocurrency or will Russia\u2019s government use the bank\u2019s vast network to distribute a cryptorouble? A much less interesting possible explanation is that there is simply an error in the tender document\u2019s description and the graphics card is only needed for image recognition, which would make sense considering that these ATMs will also have biometric authentication. Recording ATM transactions on blockchain Matvey Voytov is the head of marketing of Waves Enterprise blockchain platform which has explored several\u00a0initiatives with Russian corporations and Russian government. He told Cointelegraph that the blockchain technology could be used to record users\u2019 ATM transactions. He could not think of a blockchain use case for a graphics card outside of mining. Still he thinks that the issuance of a CBDC or Sberbank\u2019s own cryptocurrency is unlikely and believes an error in the tender document is a more likely scenario. At the same time, he pointed to Russia’s Tax Authority recently\u00a0introducing\u00a0a blockchain platform for the expedited loan issuance for small businesses. Could be used to mine altcoins Alexander Chepurnoy, co-founder of Ergo\u00a0blockchain platform, also had hard time coming up with use cases for the blockchain capable graphic card outside of mining: \u201cBesides mining, perhaps it could be used for processing of some cryptographic algorithms, but I have no idea why an ATM would need it.\u201d He said the card could not be effectively used to mine Bitcoin, but it could tackle altcoin mining, for example Ergo (EFYT), Grin (GRIN) or Ravencoin (RVN). Speculation corner If Russia is planning the issuance of a CBDC, it\u2019s likely that Sberbank would be the first bank to learn about it. There is no better way of distributing it than through the bank\u2019s vast network that reaches every corner of the immense country. Perhaps, these new ATMs could become a part of the enormous mining network supporting the new cryptocurrency? Russian MPs recently introduced a bill that would severely\u00a0punish illegal turnover of digital assets\u00a0\u2014 a possible rationale could be clearing the ground for an authorized cryptocurrency. In Russia, much like for\u00a0China, the urgency of issuing a CBDC\u00a0is much greater than for any Western country \u2014 there is a desire to bypass the international\u00a0financial system which is dominated by the U.S.\u00a0Sberbank itself has been a\u00a0subject\u00a0of Western sanctions. Speculation aside, a simple mistake in the tender document remains a viable explanation. Source:\u00a0https:\/\/cointelegraph.com\/news\/russias-biggest-bank-is-buying-5000-blockchain-atms-that-can-mine-crypto 00","og_url":"https:\/\/wegreece.com.gr\/\u03b7-\u03bc\u03b5\u03b3\u03b1\u03bb\u03cd\u03c4\u03b5\u03c1\u03b7-\u03c4\u03c1\u03ac\u03c0\u03b5\u03b6\u03b1-\u03c4\u03b7\u03c2-\u03c1\u03c9\u03c3\u03af\u03b1\u03c2-\u03b1\u03b3\u03bf\u03c1\u03ac\/","og_site_name":"We Greece","article_published_time":"2020-06-22T10:24:33+00:00","og_image":[{"width":728,"height":493,"url":"https:\/\/wegreece.com.gr\/wp-content\/uploads\/2020\/06\/Screen-Shot-06-22-20-at-12.57-PM.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 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