Ethereum — the blockchain platform created by the programmer with the Russian roots Vitalik Buterin. Ethereum allows to create the decentralized organizations based on the blockchain. One of them is Decentralized Autonomous Organization (DAO, the Decentralized autonomous organization). It is an analog of venture fund and attracts startups in the field of digital currencies.
In Ethereum so-called smart contracts which represent the special programs describing conditions and result of the transaction are supported. Transactions and check of accomplishment of their conditions pass without participation of the person.
The Ethereum network was started on July 30, 2015.
Enterprise Ethereum Alliance (EEA) is non-profit consortium which participants are engaged in search of opportunities of application of blockchain technology on the Ethereum platform in real business.
Main article: Air (Ether, Ethereum cryptocurrency)
Monetary unit of Ethereum is air (ether).
Austria issues state bonds for 1.15 billion euros through Ethereum
At the end of September, 2018 Austria announced the decision to use a blockchain for issue of government bonds for the amount of 1.15 billion euros. They will be distributed at the beginning of October within the auction which will carry out one of the largest Austrian banks Oesterreichische Kontrollbank.
The bank will issue bonds at the request of the Austrian Ministry of Finance using the Austrian Direct Auction System system which was developed based on the Ethereum blockchain platform.
It is noted that a system on bond issue will be notarized as hash values of data of Ethereum. It is the first case when the government of the country uses technology within the Federal auction for bonds in Austria.
It is possible that the authorities of the country will think also of issue of the tokenized bonds which will function in parallel with the existing paper or digital systems
The Minister of Finance of Austria Hartwig Löger noted that the country considers a blockchain as technology, "setting the tone in economic policy".
|Thanks to creation of consulting council for a fintekh at the Ministry of Finance we were engaged in development of the strategy allowing Austria to take optimum advantages of such developments — he noted.|
According to the managing director of the Ministry of Finance of Austria Markus Stix, the blockchain technology plays a key role in security and cost reduction.
|This additional security promotes achievement of high level of confidence to an auction for the Austrian government bonds and strengthens good reputation of Austria in the market that indirectly also should be reflected in financial expenses favorably — said Styx.|
Steve Wozniak compared Ethereum to Apple
|Ethereum is interesting to me because with its help it is possible to do different things and therefore that it is the great platform. By means of Ethereum I can experiment with payment of different goods and services. In the long term Ethereum has every chance to become same popular as Apple — Wozniak at the WeAreDevelopers conference in Vienna reported, addressing public in 5 thousand human.|
By May 21, 2018 market capitalization of Ethereum makes about $68 billion against $922 billion at Apple. Despite an essential difference in cost Steve Wozniak considers that Ethereum is capable to make a new revolution in the IT industry, and it should take place in the nearest future.
Wozniak added that he builds "very positive forecast concerning a blockchain and virtual currencies because they are capable to change many areas and the industries".
The plan of training for work in Ethereum blockchain system at the University of Innopolis
The management of the Russian IT university and Vitalik Buterin agreed about it in August, 2017 at a meeting at the University Innopolis. The founder and the chief architect of Ethereum visited university of the city of Innopolis for the sake of communication with professors and open dialog with students. Read more here.
Ethereum and VEB became partners
Vnesheconombank and Ethereum foundation signed in August, 2017 the partnership agreement according to which the organizations will implement projects with use of blockchain technology and the Ethereum platform.
Market capitalization in $20 billion
There it was counted that by the end of May, 2017 market capitalization of Ethereum exceeded $20 billion whereas at Twitter, according to the New York Stock Exchange, the indicator was $13.68 billion.
Ethereum began to cost more than $1 billion in the spring of 2016. Prior to the beginning of 2017 capitalization fluctuated on this mark, and at the end of February it began to grow quickly. Everything for several months of the company it was succeeded to achieve cost in $20 billion.
This result, according to Vladislav Martynov, the representative of Ethereum in Russia and the co-founder of BlockGeeksLab investment fund, first of all, shows high level of confidence of users and business community to the potential of blockchain technologies and to a business model which was selected by developers of the platform.
Starting investments into Ethereum were collected by crowd funding and made $ 20 million. During 2016 developer companies of new services and applications carried out by ICO on the Ethereum platform for the total amount of $ $330 million and 140 million attracted as venture investments.
Vladislav Martynov explains Ethereum capitalization growth with several reasons. One of them is in what developers pay much attention to finding solutions which help the platform to develop and be scaled. Ethereum drew attention of several tens large partners among whom there are largest banks and financial institutions, the governments of the different countries, the largest IT companies.
The second reason — organizational. Earlier at a blockchain community there was no explicit authoritative leader what Vitalik Buterin is, Martynov continues. It considers one more reason of increase in interest in Ethereum development a blockchain market.
The UN was started by the pilot project of the help to refugees on the basis of Ethereum blockchain
The joint blockchain project of "Ethereum" and "The world food programme of World Food Programme (WFP) will provide with products and food 10 thousand refugees.
Since the beginning of May, 2017 of the UN began to transfer funds to thousands of people in Jordan with the help a solution blockchain of "Ethereum". Cryptomoney will direct for tens of shops in five refugee camps through the whole country. For what amount equivalent to Jordanian dinars, "it is possible to outfit" the cryptocoupon – it is not reported. Activation of the coupon happens after the receiver is authenticated using scanning of a retina through the British biometric IrisGuard platform. Products from UN Innovation Accelerator, Parity Technologies and Datarella developers also involved a blockchain in the pilot joint.
The UN considers that implementation of the humanitarian program using a blockchain reduces costs for intermediaries because goes to local sellers and product providers.
Creation of consortium Enterprise Ethereum Alliance
Main article: Enterprise Ethereum Alliance (EEA)
Enterprise Ethereum Alliance (EEA) — the non-profit consortium created in February, 2017 which participants are engaged in search of opportunities of application of blockchain technology on the Ethereum platform in real business.
The alliance integrates the largest international companies, such as CME Group, Credit Swiss, DTCC, ING, JPMorgan, Santander, UBS, Accenture, Deloitte, Intel, Microsoft and also IT startups and research organizations. EEA creates the innovative technologies which will provide to the companies the new level of confidentiality of data, reliability and scalability of transactions.
2016: Work with the leading banks of the world
As of May, 2016 the Ethereum platform created by Vitalik Buterin services international banks among which there are Goldman Sachs, Credit Suisse, Barclays and JP Morgan and also Microsoft company. In total, according to the company, 40 credit institutions use the platform worldwide. The founder of the platform Vitaly Buterin then said that the Russian market "is of great interest and has high potential for development of Ethereum and start of new projects in the field of a fintekh".
2015: Microsoft and ConsenSys start Ethereum Blockchain as a Service
Main article: Ethereum Blockchain as a Service (EBaaS)
On November 9, 2015 Microsoft together with the partner of ConsenSys offered users of a cloud platform of Microsoft Azure service under the name Ethereum Blockchain as a Service (EBaaS). He will allow to create applications on the basis of technology of a chain of blocks (blockchain), by analogy with that on which the Bitcoin Microsoft cryptocurrency is based .