Ethereum Russia to Collaborate with VEB

Ethereum Russia to Collaborate with VEB

Ethereum Russia, a new entity founded by ethereum founder Vitalik Buterin and Vladislav Martynov, CEO of Yota Devices, has reportedly signed a collabo

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Ethereum Russia, a new entity founded by ethereum founder Vitalik Buterin and Vladislav Martynov, CEO of Yota Devices, has reportedly signed a collaborative agreement with Russian state-owned development bank Vnesheconombank (VEB).

The collaborative effort hopes to create a community of ethereum experts in Russia and to assist the formation projects based on etherium and other blockchain.

“Cooperation between Ethereum and VEB gives 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“, said Ethereum founder Vitalik Buterin in statements as quoted by coindesk.com.

“We signed, not a partnership, a kind of collaboration agreement … where we, and when I say we, it’s Ethereum Russia, the company which is founded by Vitalik and myself, we provide, we provide specific support, we took a commitment to provide specific support to the bank.”, commented Vladislav Martynov, CEO of Yota Devices, a Russia-based mobile communications and connectivity devices company.

The signing took place at a blockchain event in Tatarstan this weekend. Senior officials from VEB attended along with Buterin, who spoke at the event called “Blockchain: The New Oil of Russia“, as the online report made clear.

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