Russia Backs Blockchain Research Center

Announcements, Blockchain, FinTech, Innovation | July 6, 2017 By:

Vnesheconombank, a Russian government-owned development bank, the Ethereum Project, and Bitfury are collaborating to create Russia’s first competence center for blockchain research.

Vnesheconobank chairman Sergey Gorkov said that the bank has a history of working with the Ethereum Project and Bitfury. He said that the new center will be established in the Moscow Institute of Steel and Alloys. It will focus on exploring innovative technologies, developing platforms for their use in government organizations, and on training specialists.

Gorkov said that the bank plans to develop a national blockchain based on ethereum and on the Exonum platform created by Bitfury. The bank will also be involved in the certification of cryptography systems, training technology seminars, and certification of specialists and trainers. In the long term, Vnesheconombank plans to introduce prototypes created by the center into industries.