Russian Gov’t, Company Giants Kind Joint Enterprise to Develop in Blockchain, IoT

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Russian Gov’t, Corporate Giants Form Joint Venture to Develop in Blockchain, IoT

A number of Russian company giants, together with state-owned Gazprombank, have created a three way partnership that plans to develop tasks in blockchain and the digital economic system, native information outlet TASS reported June 9.

Russian telecom firm MegaFon, Gazprombank, authorities company Rostec, and the USM Group have created a three way partnership – known as MF Applied sciences (MFT) – that’s price $450 mln and has a 59 % stake in Russian Web big

The initiative plans to concentrate on growing digital monetary options by way of Gazprombank sources. In response to TASS, MegaFon said that MFT will:

“permit companions to maximally successfully implement complete, progressive tasks  throughout industries, to implement options primarily based on blockchain know-how and the Web of Issues.”

Sergey Soldatenkov, CEO of MegaFon, added that creating the separate three way partnership is a “pure step within the implementation of our company technique to realize the formidable objective of digital management.”

TASS reported that Rostec plans to make the most of the experience of the group to develop digital applied sciences.

This isn’t Gazprombank’s first foray into the blockchain and crypto area: on the finish of March, Gazprombank reported that it could start testing pilot cryptocurrency transactions in Switzerland.

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