Ethereum Founder Strikes Deal with Russian Development Bank
The non-profit that supports development of the ethereum protocol has inked a deal with a state-backed development bank in Russia.
UPDATE (31st August 16:30 BST): The title has been altered to reflect new information released today that retracts statements from the bank's original release. The rest of the article remains unchanged.
The non-profit dedicated to supporting development of the ethereum protocol has signed a partnership with Russian state-owned development bank Vnesheconombank (VEB).
Announced in a joint statement yesterday, the Ethereum Foundation will work together with the VEB to support its new blockchain research center, providing specialist training for distributed ledger technology and the ethereum platform.
The partnership hopes to help foster a community of ethereum experts within Russia and to assist the formation projects based on ethereum and other blockchain.
Ethereum founder Vitalik Buterin said in statements:
The official partnership signing took place at a blockchain event in Tatarstan this weekend called "Blockchain: The New Oil of Russia." Senior officials from VEB are in attendance, as well as Buterin, who spoke at the event.
The partnership is part of a series of steps that Russia are taking towards blockchain implementation nationwide.
Image Credit: Vnesheconombank Press Office
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.