State-backed Russian bank signs with Ethereum Foundation
Vnesheconombank, the Russian government-owned development bank, will work with Ethereum Foundation on projects related to distributed ledger technology and the implementation of the Ethereum platform. Ethereum founder Vitalik Buterin and Vnesheconombank Chairman Sergey Gorkov signed an agreement, according to the official release. The companies will use Vnesheconombank's Competence Centre, set to open next month in Moscow, "to accumulate competences and knowledge about innovative technologies, develop platforms for their use in state organisations, training and popularisation", according to a statement.

Vnesheconombank, a Russian state corporation, has signed a partnership agreement with Ethereum Foundation for the implementation of Ethereum platform and advance distributed ledger technology-related educational programs.



According to the official release, the agreement was signed by Ethereum founder Vitalik Buterin and Vnesheconombank Chairman Sergey Gorkov.



The partnership will work towards DLT-related initiatives at Vnesheconombank's Competence Center. The center will particularly focus on implementation of Ethereum blockchain, formation of an expert community on the Ethereum platform, and training specialists in DLT-related fields.



“The main tasks of the Center are to accumulate competences and knowledge about innovative technologies, develop platforms for their use in state organizations, training and popularization. This is the first center of such competencies in Russia, the main consumers of its services should be domestic state-owned companies and government bodies,” the release said (loosely translated).



The center will be located in Moscow and scheduled to open next month. Gorkov revealed the plan to establish the blockchain research center recently while announcing that it would work with the Russian Ministry of Health to deliver pilot projects using blockchain technology.



"We unite the efforts of all interested parties and create the first Competence Center in Russia for state companies and government bodies, forming an ecosystem of innovations. 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.



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