Home News VEB and CROC will join forces in developing blockchain projects

VEB and CROC will join forces in developing blockchain projects

CROC, Russia’s biggest IT-consulting company, will become a resident of the “Blockchain Competence Center” organized by the “VEB-Innovations” Foundation. The latter is being run by the Bank for Development of Foreign Economic Affairs (VEB).

Experts at CROC will analyze the applicability of blockchain to corporate management and public administering. The partnership between VEB and CROC presupposes the cooperation in the field of development and implementation of blockchain-based pilot projects, training professional manpower, running educational and scientific events and drafting blockchain related laws in Russia.

As of now, CROC and Blockchain Competence Center have organized a number of joint working groups that will deal with the issues of applying blockchain technology to state management.

“There are certain areas in which blockchain can really make our life easier. For example, take property rights registers, document circulation at the state level, or in business tasks like inter-partner retail, banking, telecom, not to mention numerous other spheres,” – Director of Integration at CROC Alexei Smirnov said.

CROC has been with blockchain since 2016. The company’s projects find their successful implementations with many major blockchain platforms including Waves, Bitfury Exonum, Ethereum and HyperLedger Fabric.

As for VEB, it has been showing interest in blockchain for quite a while too. For example, back in February it announced its readiness to aid the Government of the Chechen Republic in applying blockchain technology to health care system, social services and utilities sector.