Blockchain Firm BitFury Group Expands Reach in Russia With New Office

Blockchain, Investing, News, Regulation | March 5, 2018 By:

Blockchain infrastructure provider BitFury Group has opened an office in Russia in order to bring its products to the country’s government agencies and companies.

The Russian new office will focus on sales of the company’s two main products – Exonum, a platform for creating private blocking solutions for corporations and government agencies, and Crystal, an all-in-one bitcoin blockchain investigative tool designed for use by law enforcement organizations and financial institutions. The office will also implement pilot projects with Russian partners of Bitfury Group.

The office will be led by Dmitry Ufaev. Ufaev was one of the co-founders of the Biglion project, which launched a number of successful projects in Silicon Valley.

“I am confident that the opening of a representative office in Russia will allow us to quickly and efficiently adapt our unique solutions to the needs of Russian customers, so that the work of enterprises becomes more safe and effective,” said Ufaev.

Russia is the seventh country where Bitfury has set up its offices. The company, headquartered in Amsterdam, has already opened its offices in the USA, Great Britain, South Korea, Hong Kong, Japan, Ukraine.

Valery Vavilov, founder and CEO of Bitfury Group, said Russia has a huge potential to become the number one in the world in terms of the implementation of blockchain technologies. He said the company’s decision to open a Russian representative office confirms their interest in creating blockchain solutions for Russian customers.

In February 2017, Bitfury signed a memorandum of understanding with the Georgian National Agency of Public Registry (NAPR) to develop a blockchain system for registering land titles. In April 2017, Ukraine hired Bitfury to explore creating a blockchain system for public services, national registers and the energy sector.