Ethereum Foundation Partners with Russian Development Bank

Announcements, Blockchain, Education, Group, Investing, News | August 31, 2017 By:

Ethereum Foundation, the non-profit dedicated to supporting development of the ethereum protocol, has teamed with Russian state-owned development bank Vnesheconombank (VEB) to support VEB’s new blockchain research center.

The agreement was signed by Ethereum founder Vitalik Buterin and Vnesheconombank Chairman Sergey Gorkov. The partnership will work towards distributed ledger technology related initiatives at Vnesheconombank’s Competence Center.

The center aims at an accumulation of the competencies and knowledge about innovative technologies, development of the platforms for government organizations, training, and popularization.

The competence center will be located at the National University of Science and Technology in Moscow and is scheduled to open next month.

Buterin said that cooperation between Ethereum and VEB provides a unique opportunity to engage in research and development on the use of blockchain technology for public administration and accelerate the adaptation of this technology to government organizations in the Russian Federation.

Gorkov said they unite the efforts of all interested parties and create the first Competence Center in Russia for state companies and authorities, forming an ecosystem of innovations. He added that their skills and achievements here will bring both Russian developers and world leaders in innovative breakthrough industries.

“We are pleased to supplement VEB’s experience and expertise with the competence of Ethereum, the leading developer of block-based platforms,” said Gorkov.