Topic: [2017-08-31] Ethereum Signs Key Deal with Russian State-Owned Bank For Blockchai (Read 234 times)

The agreement on partnership agreements between the Ethereum fund and the Russian state bank Vnesheconombank will in any event positively affect the course of this coin. Its rate is now quite good - $ 383, but, apparently, this is still far from the limit and it has great potential. In addition, after she became interested in such a large country as Russia.

Why would it have any affect. Every other group of banks that experiments with Ethereum doesn't plan on using the public chain called ETH. It's almost as if the author didn't grasp that the Ethereum Platform can be used to create multiple private chains that have absolutely no connection to ETH the public token.

The public tokens primary purpose was to bankroll the Foundation. It's served that purpose and now they are free to continue with the corporate agenda on private chains and make even more money. The genius of ETH and other ICOs is it can raise millions of dollars without issuing stocks. Basically a way of raising money without pesky shareholders. You own the company 100 percent and owe nobody. Meanwhile the token holder owns something that is the equivalent of "that's not worth the paper it's printed on".

The Ethereum Foundation has signed a far-stretching agreement with Russian state-owned bank VEB at the “Blockchain: The New Oil of Russia” conference in Tatarstan.
Russia leading the pack

The union is intended to create a new Blockchain technology training program in order to move Russia forward in the Blockchain world. According to the statement:

    “The agreement provides for a long-term and effective partnership in the implementation of projects using the technology of the distributed registry and Ethereum platform, the formation of an expert community on the Ethereum platform and the joint development and implementation of educational programs for training specialists in the field of distributed registries and the Ethereum platform based on Vnesheconombank's Competence Center.”

The program will produce educated and trained Blockchain experts for use and help in state-owned corporations as well as government bodies. The Competence Center will be in Moscow and will be open September 2017.
Impact on Ethereum

The impact on Ethereum is extremely positive in the short term. Additional partnerships, especially with government bodies, create much greater chain stability and confidence, as well as use. Prices should respond positively to this partnership.

However, if the shift from Proof of Work to Proof of Stake does take place, per Buterin’s road map, it may result in substantial government-held nodes, effectively centralizing Ethereum block creation.

https://cointelegraph.com/news/ethereum-signs-key-deal-with-russian-state-owned-bank-for-blockchain-adoption