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Waves CEO Sells His Share In The Blockchain Project Spin-Off

17 Jul 2019

Based on a recent report, Alexander Ivanov the founder of token issuance platform— Waves has sold off his share in the company’s blockchain subsidiary firm Vostok so as to place his full concentration on the waves platform.

GHP Group Bought the Shares

Ivanov sold his share of Vostok to global financial group GHP Group, therefore, making it the owner of the initiative. The CEO sold the project in order to direct all of the available resources on the development of the Web3 ecosystem within the Waves Platform.

Mark Garber, the board chairman of GHP Group said that:

“Distributed ledger technologies are an extremely promising market. Vostok is one of the leaders in the Russian market, with development potential on a global scale. Vostok’s progress will help GHP Group projects to reach a new level of technological development. The group will continue to build the project, retaining the management team and the platform development team, whose competence is confirmed by their participation in the development of a distributed ledger technology roadmap,”

Also, Garber who is a very popular entrepreneur in the Russian investment community stated that the GHP Group will continue to develop the initiative and it has plans to employ Vostok’s technology in their logistics, resource, and production, as well as partner projects.

With Vostok being a major blockchain project in Russia, it has forged partnerships with Russian corporate and government clients like the state-owned Vnesheconom and the largest bank in the country Sberbank.

Meanwhile, the Vostok which was created by Waves was launched in April 2018 as a project to promote digital technologies among large infrastructures owned by both the government and the industry. $120 million was raised for the project by Waves in late 2018 so as to create new technologies like artificial intelligence and blockchain in order to “support a truly open and decentralised web.”

Source From : Coindoo News

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