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Blockchain R&D center in Kiev
Earlier this month American-Ukrainian software development company Innovecs launched a Blockchain research and development center in Kyiv (Kiev). The center was set up with the participation of Mikhail Chobanyan, co-founder of Bitcoin Foundation Ukraine (BFU).
A blockchain is a distributed database that maintains a continuously growing list of data records. This technology offers protection against tampering and revision, even by operators of the database. It is used as a distributed transaction ledger for some cryptocurrencies, including bitcoin.
Innovecs’ already had a Blockchain expertise which had been used to develop solutions in the fields of e-government, financial technologies and business solutions, Lutskiy added.
In particular, the company plans to connect Ukrainian banks to Ripple, an Internet protocol to secure financial transaction data and accelerate payment transactions, according to Ukrainian tech blog AIN.UA.
The Blockchain technology is quite popular in the country, and many Ukrainians are among advanced Bitcoin users, according to BFU.