The requirements for the firms include a working prototype of the product, a working business model, international targeting. Representatives of Sberbank Strakhovanie will give an advantage to businesses proposing blockchain solutions in the insurance sphere.
In December 2015, Yandex, a Russian IT-company and the 4th world’s largest search engine, claimed that blockchain will play the leading role in the emerging decentralisation of the economy in 2016.
Sberbank Strakhovanie is an insurance subsidiary company of Russia's major bank Sberbank. In January, Sberbank's CEO Herman Gref made a statement emphasising the transformative potential of blockchain for all spheres of social and public life. On a different note, another bank's representative recently compared blockchain technology to teenage sex, in the sense that here is much talk about it but little experience. Target Global is an international VC firm focusing on digital-enabled companies and has over 300 $ million in assets and offices in San Francisco, Berlin and Moscow.