Vostok Blockchain platform

The Vostok project is a solution blockchain for the scalable digital infrastructure consisting of two elements: a basic technology innovation - the closed Vostok blockchain platform - and the facilitator of its development, support and implementation - Vostok system integrator. The main objective of the project - to create a basis of digital infrastructure for certification, registration and tracking of data and also to make blockchain technology simple in use in business and public administration.

2019

Start of the main network of the Vostok platform

At the St. Petersburg International Economic Forum in June, 2019 the main network of the Vostok platform is started. Partners and clients of the project will be able to build own nodes of the main network now and also the closed subnets allowing to use all opportunities Vostok blockchain network, storing at the same time the data only in own IT-systems. The main network at such scheme is used only for validation of transactions.

Vostok promised to start a blockchain platform in the first half of 2019 in December, 2018 after closing of the first round of financing. Then the project attracted $120 million from group of foreign and Russian investors and was estimated at $600 million.

The City of N project for initiative budgeting became the first a solution blockchain in the field of public administration, implemented within cooperation with the Nizhny Novgorod Region.

Along with the beginning of work of the main network 1 billion system tokens of Vostok which are an integral part of the platform working on an algorithm of consensus Proof-of-Stake was produced and provide its correct functioning.

Assessment in $1 billion

The Vostok blockchain platform within the second round of investments is estimated more than at $1 billion. Attraction of financial resources already goes. On May 20, 2019 representatives of GEM Capital investment company which became one of investors of the first round of financing reported about it.

The Vostok blockchain platform carries out the second round of attraction of financing

The first round of investments which came to the end in December, 2018 allowed the platform to attract $120 million at assessment of all project in $600 million. Within the first round the digital assets necessary for work of a blockchain platform were sold, and the transaction was structured using mechanisms of attraction of private investments in other industries.

According to the managing director of GEM Capital Alexander Bykhovsky, Vostok is one of the most perspective a blockchain projects. The technology used by the platform already functions and shows extremely high processing speed of transactions that attracts interest from the largest representatives of business.

Vostok is the project on creation of the closed blockchain platform, held for use the companies of private and state sectors. An initiator of the project is the founder of Waves Alexander Ivanov.

According to him, participation in the first round of financing of GEM Capital confirmed success of the developed scheme of attraction of the capital in a blockchain projects which gives the bigger level of comfort and is usual to professional investors.

2018: Cooperation about Rostec

On September 13, 2018 it became known that the State Corporation Rostec and the Vostok project will implement jointly blockchain technology in infrastructure of digital economy. The companies plan cooperation in projects implementation of the state program 'Digital economy of the Russian Federation', development of solutions for infrastructure projects, in particular for 'the smart cities', and to creation of technology base to go to 'the digital enterprise'.

Within the agreement Rostec and Vostok will create project office for project implementation of the state program 'Digital economy Russian Federation'. First of all the companies plan implementation of the Vostok platform for collecting, storages and exchange data between state bodies, citizens and municipal authorities. Also development of joint competences in all 'end-to-end' technologies designated in the state program is supposed. The joint investments in project office will make about 2 million dollars USA.

Within the state program 'Digital economy' the State Corporation Rostec is responsible for formation of technology backlogs. We perform search of perspective projects and we define technology leaders, cooperation with whom opens ample opportunities for development of the digital systems. Key criterion for the choice of developer companies is the high level of proposed solutions and their demand in the market. The Vostok platform fully has such characteristics and can be successfully integrated into complex digital projects for the benefit of our corporate and state customers. Sergey Chemezov, CEO of State Corporation Rostec

Development of solutions for infrastructure projects will become the important direction of cooperation of State Corporation Rostec and the Vostok project. In particular, creation of the entrusted infrastructure of 'the smart city' and mechanisms of work with Big Data is supposed.

The platform and Vostok integrator are initially designed so that to solve relevant problems of the enterprises of the real sector of economy and the state institutes, performing function of core digital infrastructure for certification, registration and trackings of Big Data. Cooperation with State Corporation Rostec, the main provider and the driver of infrastructure projects for digital economy, not only will provide access to huge base of corporate and state customers for implementation of infrastructure solutions of Vostok, but also will become a strong push for development in general. It should be noted that Vostok is based on technology base and technology backlogs of Waves. The Vostok platform, in turn, will be able to increase capacity present opened a blockchain - systems in tens of times. Alexander Ivanov, CEO of Waves Platform and Vostok project

Creation of technology base for implementation of model of 'the digital enterprise' within a broad spectrum of industrial projects of State Corporation Rostec will become one more direction of cooperation. The concept of the digital enterprise means application of a complex of technologies in a production cycle, the relations with partners and also in work with data. So, collecting, processing and storage of statistical data of State Corporation Rostec on the Vostok platform and also cataloguing of products made by industrial enterprises of Russia is planned.