GHP Financial Group acquires Vostok-Projekt

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Press Release Power

Jul 17, 2019, 02:57 ET

LONDON , July 17, 2019 / PRNewswire / - Mark Garber's GHP Financial Group has become the sole owner of the Vostok project after its previous owner, Alexander Ivanov , has fully sold its stake in Vostok to focus on developing its flagship project, the Waves Platform - to focus.

The agreement enables GHP Group and Mark Garber to integrate distributed ledger technologies into their resource, production and logistics assets as well as partner projects.

"Distributed-ledger technologies are a very promising market. Vostok is one of the market leaders in Russia with development potential on a global scale. Vostok's progress will help GHP Group's projects reach a new level of technological development. The Group will continue to build the project and retain the management team and platform development team whose expertise is confirmed by their involvement in developing a distributed ledger technology roadmap, "said Mark Garber , GHP Group Chief Executive Officer.

Mark Garber is one of the first investors in the Vostok project. Last year, Vostok signed partnerships with major Russian corporate and government clients such as Sberbank, Transmashholding, VEB.RF, Rostec and the Nizhny Novgorod region. Under the agreement with the Nizhniy Novgorod region, a civic voting system has even been developed that allows residents of the region to determine the purposes for which their taxes are being used.

"The development paths of Vostok and Waves are becoming increasingly different. For me, the focus was on the international development of the Waves Platform to create the next generation of the Internet with intelligent, distributed services on the Blockchain. That's why I decided to sell the Vostok project and focus on the development of the Web3 ecosystem, including major enterprise projects, "said Alexander Ivanov , CEO and founder of Waves Platform.

Distributed Ledger technology is one of the "end-to-end" digital technologies defined in the State Program "Digital Economy".

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