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Bitfury And PwC To Assist Blockchain Projects In Russia

18:19 14/12/2018

The division of the blockchain firm Bitfury Group in Russia and the international consulting company PricewaterhouseCoopers (PwC) have announced the launch of an accelerator for corporate projects based on distributed ledger technology (DLT). The partners will be guided by the needs of PwC corporate customers when developing blockchain products, ForkLog reports.

The parties have not yet revealed the exact release date of the new accelerator. However, PwC has already presented the first such case based on the Exonum blockchain framework for training courses and seminars.


Victor Nelin, a PwC representative in Russia, stated that distributed ledger will not only allow companies to develop services for internal use and expand the capabilities of existing products but also create new business models for a broad segment. In particular, DLT can reduce the cost of a company for personnel and infrastructure as smart contracts can automate financial transactions and business processes.

Earlier, Bitfury launched Russia's first blockchain platform on Exonum for storing educational documents, as well as authenticating the issued diplomas. It is designed to speed up the archiving of documents and protect data from falsifications.


At the same time, according to a survey by PwC, only 25% of the world companies interested in blockchain have actually implemented the technology in their work during the first two quarters of 2018. The US and China were the leaders in the number of the launched blockchain initiatives.


For instance, the American company State Farm has recently introduced blockchain into auto insurance.

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