Ethereum First Becomes Resident of NUST MISIS and VEB Center of Competencies

VEB has organized an open conference on blockchain with Vitalik Buterin, the founder of the Ethereum blockchain-platform. The event was held at the Center of Competencies, which NUST MISIS and VEB will launch in the near future.

„VEB is opening a blockchain-commune, in which an international team of leading experts in the field of blockchain will be working on pilot projects for its further implementation into corporate and public administration. Experts from companies such as Ethereum, Bitfury, and Waves, as well as world leaders in the field of blockchain development, are all already involved in the project. It will be the center of blockchain competencies and at the same time [it will be] an educational center where entry-level developers of blockchain-platforms will pose their questions, learn, and gain experience with an international team”, — said Sergey Gorkov.

NUST MISIS students who study applied mathematics, computer science, computer engineering, electronics, and nanoelectronics have already been invited to the Center of Competencies.

During the discussion, the question of the volatility of cryptocurrencies garnered special focus.

Talking about the development prospects of different types of currencies, Vitalik Buterin said that in 20-40 years we will have lots of different types of currencies. „There used to be national currency and gold. In the future, companies will issue their own currency, so there will be global cryptocurrencies, and even cities will be able to issue their own currency. Everyone will have several types of currencies”, — mused the Ethereum founder.

„We are at the very beginning of our path and I think that cryptocurrencies will show crazy ups and downs. I believe that in a few years there will be a steady growth. Surely, if you are not expecting an immediate result, it is promising to invest in this field. It is a mature technology already”, said Vladislav Martynov, a panelist and representative from the Ethereum Supervisory Board.

The conference participants also noted that blockchain technology is continuing to develop and people know how and where it can be applied; even the management of several countries areconsidering its implementation intouse for public administration.The speakers also noted that Russia could become a world leader in the field of blockchain technology development, and they encouraged the audience to apply the technology on a larger scale.

„In a modern world for the solution of complex tasks in the fields of science and technology, it is necessary to combine resources of leading universities and development institutions. The collaboration between NUST MISIS and VEB in the field of blockchain-technology implementation will allow [us] to not only prepare highly-qualified specialists for the digital economy of the future, but also to create a real factory of innovative projects for the largest enterprises of our domestic industry”, said Alevtina Chernikova, Rector of NUST MISIS.

Currently, VEB is also developing approaches for blockchain technology’s implementation within the banking sphere. Two prototypes of technological solutions — trade finance transactions and management of investment projects („Digital contract”) — have already been launched and tested. The first test transactions on digital contracts in the field of investment have already been registered; in the future, this solution may be applied in other fields too. The Bank has launched an electronic wallet for the charity fund „The joy of old age” ("Старость в радость"/"Starost v radost`"), and a VEB employee made the first cryptocurrency contribution to the Ether of Ethereum company.