Russia is now turning people towards blockchain technology as the largest bank of Russia Sberbank has made a deal of $100 million to acquire 5,000 ATMs which are powered by the blockchain technology. According to the report from a local Russian news site Izvestia, the Russian bank has planned to operate all of these blockchain-powered ATMs across the whole country.
As per the report, the Russian bank has made a contract worth $100 million for 5,000 ATMs which means that the bank is paying approximately $22,000 for each ATM.
All of these contactless ATMs bought by the Russian bank are integrated and compatible with Google Pay, Samsung Pay, Apple Pay, Huawei Pay, and also with Mir Pay, the contactless payment platform of the Central Bank of Russia. Sberbank makes it clear that these ATMs are blockchain-powered but they have nothing to do with cryptocurrency as they are not BTMs.
ATMs can hold up to $14,500 USD
According to the report, the machines have enhanced blockchain capabilities and can expectedly hold up to $14,500 USD. In addition to blockchain technology, they make use of video cards for facial recognition and have been manufactured in a vandalism resistant environment which means that they all are vandal-proofed.
In the presence of blockchain-powered contactless ATMs, it will be easy for customers to operate them. They do not now need to use touch screen interfaces to operate machines rather they can simply use their smartphones to operate them.
Russian Sberbank does not want its customer to rely on plastic cards anymore and is, therefore, shifting them towards blockchain technology. According to the report, the plan of the bank is to lower the costs and attract the attention of new users to its payment platform.
This initiative taken by the Sberbank refers to Russia’s growing interest in the blockchain technology. Russia is keen to adopt the blockchain technology for future use. Though the country is a big lover of blockchain technology it does not favor the free use of digital currencies in the country.
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