Russia’s largest bank joins Enterprise Ethereum Alliance

Russia’s largest bank by assets, Sberbank, joins the Enterprise Ethereum Alliance after R3 rejection
20 October 2017   832

A group of companies, technology startups, corporations and governments working to leverage open-source Ethereum technology for enterprise blockchain solutions, the Enterprise Ethereum Alliance (EEA), announces the addition of Sberbank, Russia’s largest bank, to a list of over 150 members from public and private sectors alike.

This is not the first Sberbank's attempt to enter the blockchain world. Thus, in 2015, Sberbank revealed the desire to join the international banking blockchain consortium led by New York startup R3 (however, R3 refused Sberbank’s membership to the consortium). Then, in September 2016, Sberbank joined the Linux Foundation-led open-source Hyperledger Project.

Now, according to the announcement, Sberbank becomes the first Russian bank to join the EEA and reveals its intent to further Ethereum blockchain solutions Russia.

Our entrance to the Alliance will help broaden cooperation between leading global companies in terms of developing the Ethereum platform. The Alliance is actively developing and I hope that the bank’s expertise will be of use to all of its members. In addition, the bank will be able to influence the enhancement of the platform and its growth in the corporate sector. I hope that our union will further strengthen our relationship with the Ethereum Foundation and serve as a significant step towards developing blockchain technology in Russia.

Igor Bulantsev
Sberbank senior vice president

It's also noteworhty that Sberbank chief executive Herman Gref, a noted blockchain advocate and a Bitcoiner, has speculated that the blockchain technology will lead to commercial applications in 2019.

Ethereum Community Fund Created

Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint are involved in the creation of the new fund
16 February 2018   112

Prominent members of the Ethereum ecosystem open a fund designed to support projects developed on the blockchain of the second largest crypto currency. This is reported by CoinDesk.

Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint are involved in the creation of the Ethereum Community Fund (ECF). Their goal is to introduce the services on the basis of Ethereum in the infrastructure of companies, which they can be useful.

The fund's founders also intend to launch a grant program that will provide "permanent financial security" to selected projects, the press release said.

The founder of Ethereum Vitalik Buterin directly participates in the work of the fund, in a letter to CoinDesk confirming that he acts as an adviser.

Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished. Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help make that possible.

Vitalik Buterin

Co-creater, Ethereum

ECF is not the only organization dedicated to the development of the Ethereum ecosystem. Ethereum Foundation, a not-for-profit organization that also makes a significant contribution to the development of the platform, in January announced the launch of two sponsorship programs designed for developers seeking solutions to scale the network. The Enterprise Ethereum Alliance provides resources to companies interested in applying Ethereum, and links Fortune 500 companies with crypto-cash start-ups.