First research and development center Blockchain has appeared in Kyiv
American technology company Innovecs and one of the founders of Bitcoin Foundation Ukraine Mykhailo Chobanyan pool efforts to develop Blockchain solutions for the public sector and international business
American technology company Innovecs and a famous peer-to-peer payment system expert have opened the first Blockchain competence center in the technology company. Thus, Innovecs will develop new and integrate existing financial and technological solutions and services on the basis on Blockchain for global clients.
Clients all over the world have made active usage of the Blockchain technology. Peer-to-peer payment system Bitcoin was created on its basis. According to the information provided by Bitcoin Foundation Ukraine, Ukraine is one of top 10 countries in the world by the number of the global Bitcoin network users.
This technology is the safest one in the area of data storage and transmission and is being actively developed in the banking sphere. It can also be efficient against corruption in the public sector which is vital for Ukraine nowadays.
"Setting-up the Blockchain research and development center in Innovecs gives absolutely new technological opportunities not only on the level of world corporations but also on the country-wide level. Mykhailo Chobanyan, an expert in the sphere of crypto-currencies and peer-to-peer payment systems, namely, Bitcoin, will be engaged in research and development of Blockchain technologies. I am sure that his industry expertise and our technological one will produce excellent results, - comments on the event Alex Lutskiy, Innovecs Co-Founder and CEO. – In the nearest future we plan to connect Ukrainian banks to the internet protocol Ripple which will cryptographically secure financial transaction data and will allow to reduce the costs and speed up payments due to the system openness and absence of mediators."
Implementation of the technology will also facilitate the development of an electronic government in Ukraine.
"Technological solutions will aid the financial sector and the machine of government to become "healthier" and more efficient: replacing the human factor with a technology, we exclude a third-party influence and provide absolute data transparency and security," says Michael Chobanyan, VP, Blockchain technology & Fintech business in Innovecs and the founder of Bitcoin Foundation Ukraine.
In 2015, the government and the Central Bank of Singapore appropriated USD 166 mln. for the financial sector development and creation of the Blockchain decentralized database. Besides that, such financial leaders as: Citigroup, Barklays and UBS are creating and testing their own crypto-currency which proves that banks are interested in this technology. Ukrainian banks have an immense potential for the development and implementation of Blockchain.
Innovecs is an American business technology outsourcing company headquartered in Ukraine.
We focus on design and development of turnkey innovative software solutions for worldwide customers. We create advanced products and work on complex projects requiring highly qualified experts and non-standard engineering solutions.
At Innovecs, we believe in the power of true partnership – and it typifies the Innovecs brand. We are proud by the fact that our clients rely on us in creating absolutely new and often revolutionary software products from scratch. We work closely with our clients to ensure that the products they want are the products we deliver – every time – and that we routinely exceed expectations. To learn more about us please visit: www.innovecs.com
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