GHP Financial Group Acquire Vostok Project

LONDON, July 16, 2019 /PRNewswire/ -- Mark Garber's GHP Financial Group has become the sole owner of the Vostok project after previous owner, Alexander Ivanov, fully sold his stake in Vostok in order to focus on the development of his main project - the Waves Platform.

The deal will enable 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 an extremely promising market. Vostok is one of the leaders in the Russian market, with development potential on a global scale. Vostok's progress will help GHP Group projects to reach a new level of technological development. The group will continue to build the project, retaining the management team and the platform development team, whose competence is confirmed by their participation in the development of a distributed ledger technology roadmap," said GHP Group board chairman Mark Garber.

Mark Garber is one of the early investors of the Vostok project. Over the past year, Vostok has entered into partnerships with major Russian corporate and government customers including Sberbank, Transmashholding, VEB.RF, Rostec, and the Nizhny Novgorod region. The agreement with the Nizhny Novgorod region has even seen a system of civil voting developed, allowing the residents of the region to determine for what purposes their taxes will be directed.

"The development paths of Vostok and Waves are becoming increasingly divergent. For me, the priority was and remains the international development of the Waves Platform to create the next generation of the Internet with smart, decentralised services running on the blockchain. Therefore, I have decided to sell the Vostok project and focus on the development of the Web3 ecosystem, including projects in the sphere of large business," said Alexander Ivanov, CEO and founder of the Waves Platform.

Distributed ledger technology is one of the "end-to-end" digital technologies defined in the state program "Digital Economy".