Vnesheconombank calls Crypto Valley “the world’s largest centre for blockchain technology development”. And it hopes to now benefit from the expertise there. As the bank announced, its Blockchain Commune – the bank’s centre of blockchain competencies and digitalization – is now a member of the Crypto Valley Association.
“We are exploring the world’s best practices in the transition to a digital economy,” said Sergey Gorkov, Vnesheconombank’s chairperson. One of the bank’s aims is to integrate Russian partners into the education programmes of Crypto Valley, and a technological collaboration with Partners in Zug is also under consideration. Vnesheconombank also wants to learn from Crypto Valley to help turn Russia into a centre for blockchain itself.
In return, Crypto Valley residents will receive support for entry into the Russian market. According to Vnesheconombank, Russia is already a major player in the cryptotechnology and Russian ICOs raised 390 million dollars in 2017. Global ICOs amounted to 1.2 billion in 2017.
The Crypto Valley Association was founded in 2017 to strengthen the Swiss blockchain ecosystem. It supports startups and established companies through policy recommendations, R&D and organizing events.
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