Russian Financial Consultant acquires Wave Founder’s Blockchain Startup

The Waves platform team had founded a startup called Vostok which has now been sold to one of the project’s earliest investors. The company was formed in 2018. Via its partnership with some of the largest private and state-owned enterprises in Russia, as well as global firms, the Waves platform has been able to develop blockchain solutions for institutional, industrial, and military use.
Vostok in 2018, had aligned with Rostec, the Russian state-owned conglomerate to enable them securely manage data for the firm’s 700 industrial entities. The startup also played an important part in road mapping the “digital economy” as part of the “Strategic Development Objectives of the Russian Federation up to 2024,” announced by President Vladimir Putin.
A report by Gazeta.ru revealed that the CEO of Wave Alexander Ivanov “sold his stake” in the data management and smart city-oriented project to Mark Garber of the financial consultancy GHP Group.

Ivanov told Gazeta:
“I would like to focus on the international development of the Waves Platform. The tasks of building a decentralized Internet of the new generation based on the blockchain (the so-called Web3), which we implement in Waves, require my one hundred percent concentration.” Garber plans to integrate Vostok’s digitalization solutions in GHP’s mining, production, and logistics projects, although not so much information has been disclosed about the deal. Also according to Gazeta’s report is that Garber holds a stake in Fesco, a container transporting company and serves on the board of TransContainer, another trade logistics company.

Its”Gorod N” project was done in partnership with Nizhny Novgorod region administrators, who developed a civic voting and public budgeting solution that enables citizens to vote on where tax dollars are spent as reported. It was said as well that Garber intends to keep the present development team of the startup and elect a new supervisory board. Waves will open a Berlin office as part of their initiative to strike larger international deals.

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Credit – Daniel Kuhn

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