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Last updated on October 19th, 2020 at 01:37 pm

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The Vostok project, a part of Waves ecosystem focused on implementation of Waves technologies in enterprise and government IT-systems, has secured a USD120 million funding round from private and institutional investors.

As per the news update from Waves Blog

Waves & Vostok Interaction
Waves Platform was founded on the principle that blockchain is a technology of and for the people. And while the reach of our project has expanded to cater to a wider category of users, we have never lost sight of this — we continue to view blockchain as a driver of change.

Blockchain technology, specifically, has become more adaptable for use in enterprise and the public sector — it is now possible to build customisable high-performance networks, without compromising security and privacy.

In a bid to leverage these new capabilities, and inspired by our global initiative to build and develop a blockchain layer of the WEB3, we have developed the Vostok platform.

While compatible with the Waves public chain, Vostok represents a universal blockchain solution for scalable digital infrastructure comprised of two constituent elements:

• a fundamental technological innovation — the Vostok private blockchain platform;

• a means of maintaining, developing and optimizing the platform — the Vostok system integrator.

The project will not only benefit the market position of our growing Waves ecosystem as it uses the Waves-NG protocol, but also our loyal community will also gain financially through a planned airdrop of 3% of the overall supply of Vostok System Tokens (VST).

We are also currently looking into the legal conditions for running a public VST token sale exclusively for Waves token holders. If the public sale is deemed legally viable, it will be carried out only through Waves System Token.

System Integrator

The launch of the Vostok project will be followed by the establishing of a new global integrator company, focusing on both private blockchain implementation in large enterprises and public blockchain implementation in services that require open blockchain approach.

In support of this exciting endeavour and its deployment on a larger scale, we have been fortunate enough to establish a number of fruitful partnerships with leading technology companies, financial institutions, public service providers and enterprises.

Our upcoming system integrator will see the Vostok platform positioned to form the foundation for a digital infrastructure for the certification, registration and tracking of data in these sectors.

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By Tony Chimdiuto

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